Precious metals under pressure

6:22 PM 12 May 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

Share:
Back

Join over 1 600 000 XTB Group Clients from around the world

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits