Palladium may regain strength; auto sales in focus

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Source: Dukascopy Bank
Precious metals tumbled on Wednesday  amid weaker equities and firmer US Dollar. The commodity group lacked clear direction over the week as further actions of the Fed stayed uncertain. Meanwhile, a smaller than expected increase in the durable goods orders sparked mass commodity selling among investors. Gold and silver moved in tandem during the day while platinum and palladium seemed to be persistently exposed to the fall in China's car sales. Palladium is likely to recover after a sharp tumble as the demand remains strong due to expected 5.3% gain in vehicle sales. Moreover, popularity of the green policies in the EU may stimulate demand for the metal.
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