Commodity traders stay bullish as CME Palladium adds $5.4 or 0.38%

After closing the previous trading day at $1,415.6, Palladium went up to $1,451 only to drop back; still positive overall today, now trading at $1,421 per troy ounce.

On the flip side, Core Durable Goods Orders in United States fell short of market expectations (0%) with a reading of -0.2%, continuing the decline from the previous figure of 0.3%. United States Pending Home Sales released earlier showed a marked improvement to 0% from the preceding data of -5.2%, but fell short of the 0.5% figure forecast by a consensus of market analysts.

At the same time, United States Core PCE Price Index (MoM) (Apr) released today at 12:30 UTC with a figure of 0.4, while the previous figure was 0.3.

This rally in CME Palladium's price coincides with other Metals as Copper gained 2.33% and is currently trading at $3.67. Silver is up 2.34%.

The Palladium future has fallen back around 39% over the past 7 months, from a notable high of $2,321.2.