Palladium price plunged more than $250, revealing the reason behind it!
On April 25, market analyst Anna Golubova wrote an article analyzing the reasons for palladium's plunge of more than $250, including the Asian epidemic blockade, falling demand and the ongoing war in Ukraine.
Earlier this week, palladium suffered a larger sell-off in the commodities market, falling heavily by about $300 as investors depressed commodities and U.S. stocks.
Analysts were quick to point out that concerns over unprecedented blockade measures in Asia were one of the main triggers that weighed on the commodities market early this week.
RJO Futures senior market strategist Peter Mooses said: "Palladium is very sensitive to the Asian embargo because it affects manufacturing data. Palladium, a precious metal, is widely used as a catalytic converter in the automotive industry."
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