Palladium Daily Price Recap
The choppiness in the recent daily price action of Palladium continues; to start today, it came in at a price of 2399.428 US dollars, down 0.44% ($10.61) since yesterday. Relative to other instruments in the metals asset class, Palladium ranked 3rd since yesterday in terms of percentage price change. The daily price chart of Palladium below illustrates.
Palladium Technical Analysis
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For another vantage point, consider that Palladium’s price has gone up 17 of the previous 30 trading days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.
Overheard on Twitter
For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Palladium for the past day were:
- From palladiumtweets:
Hong Kong #Palladium #Price Morning Session Open: $2410.5 USD per oz 2020-09-16 08:30:18 HKT
In terms of news links for Palladium here’s one to try:
So in general, palladium has only increased in value – be it in times of economic boom or economic doom – both as a commodity, where the demand will continue to increase, and as a safe haven….During the 2008 crisis, palladium didn’t surge as much as gold did, and it traded in a slow but steady uptrend until 2008, which showed that it was increasing in value as a commodity in demand, as the global economy was rebounding from the economic crisis of 2008-09….The USD has been in a freefall for some time, which has been keeping risk assets and safe havens well bid, with palladium turning bullish again in July….As a result, the global equity market often moves lower, while trading in safe havens, like the US dollar and palladium, remains bullish….Obviously, palladium has a mind of its own, switching from a safe haven to a commodity, but mostly benefiting from both, since the price has been increasing since 2009….DXY turns bullish first, then bearish XPD/USD turned bearish first, then bullish During the same period, the XPD/USD retreated lower, which means that the increase in the USD had a negative impact on the price of palladium.