Precious metals under pressure

6:22 PM May 12, 2022

Precious metals fell sharply during the second part of today's session, with palladium and silver being the top laggards, which were pressured by the stronger US dollar. Concerns about recession and uncertain situation in China overshadowed duties imposed on Russian raw materials. It is worth remembering, however, that Russia accounts for 40% of global palladium supply, and both commodities are important components of developing trends in the global economy. At the moment, silver is trading 2.71% lower, while palladium fell 5.88%.

The performance of silver and palladium against the US dollar index. Interval H4. Source: xStation5

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