Palladium Price To Struggle In Recovery, Silver Prices (XAGUSD) Facing Downward Pressure

Palladium Price To Struggle In Recovery, Silver Prices (XAGUSD) Facing Downward Pressure

Summary:

  • Palladium and Silver prices are being affected by the hawkish Fed and the China lockdown.
  • Could Wheat Futures prices be in recovery mode?

Palladium price to struggle in recovery.

The price of Palladium fell almost 13% by the end of the trading day on Monday. Since the market opened this morning, palladiums price has increased by almost 4%, rebounding as a result of concerns around reduced demand due to the lockdown in China. The recovery of Palladium looks fragile for the future and the escalating COVID-19 situation in China will put pressure on the recovery of this commodity.

Palladium Price

Palladium Jun 22 Futures


Read next: U.S bond Yields vs Gold Futures, Volatility In The Price Of Coffee, Brent Crude Price Falls 


Silver prices are seeing consistent declines.

Since the market opened this morning the price of Silver futures have slightly increased, however over the past week, the prices have been falling quite drastically. This drop in price comes hand-in-hand with the hawkish Fed and uncertainties around China and their COVID lockdowns. The recovery of Silver is uncertain amidst the current market uncertainty.

Silver Price (XAGUSD)

Silver May 22 Futures

Wheat Futures prices.

Chicago Wheat Futures prices are up by almost 2% since market opening today. Despite the adverse weather conditions and the Russia-Ukraine conflict causing concerns around supply, the price of Wheat Futures has still seen a fall over the past week. Perhaps given the concerns in China we will see the price of Wheat Futures recover in the coming weeks.

Wheat Futures

Chicago SRW Wheat Futures Jul 22


Read next: Carbon Net-Zero Goals Affecting the Prices of Platinum, Copper and Lithium 


 Sources: Finance.yahoo.com

Rebecca Duthie

Rebecca Duthie

Remote Editor and writer Intern
FXMAG.COM

Rebecca has a bachelors degree in Investment Management, a Post Graduate Diploma in Financial Planning and is currently enrolled in a Masters program in International Management with a Specialization in International Finance.