Metals traders focused on Palladium as it powers 0.38% higher

Published: May 27 2023, 01:10 GMT+0

Metals traders focused on Palladium as it powers 0.38% higher

Yesterday at a glance: Palladium ended Thursday at $1,415.6. yesterday it went up to $1,451 only to drop back, yet still managed to close at $1,421 per troy ounce.

On the flip side, highly important Core Durable Goods Orders data from United States beat analyst expectations of 0% with a reading of -0.2%.

At the same time, United States Core PCE Price Index (MoM) (Apr) released yesterday at 12:30 UTC with a figure of 0.4, while the previous figure was 0.3. Fresh CFTC Crude Oil speculative net positions data from United States came out at 193,100.

Rallies can also be seen in other Metals, Copper is trading around $3.67 after ending yesterday's session at $3.59 (up 2.33% today). Silver added 2.34% and closed around $22.91 yesterday.

Having soared to a high of $2,321.2 approximately 7 months ago, Palladium is now trading 39% lower.

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