Commodities Corner: Coronavirus pandemic knocks palladium and rhodium off the rally track

Palladium notched fresh records this week, but analysts warn that COVID-19’s impact on the global economy warrants caution for traders looking to participate in the rally for the metal, or those eyeing prospects for sister metals rhodium and platinum......»»

There’s one commodity that’s seen a phenomenal gain in prices this year that may have been missed by some investors: rhodium’s value has climbed by more than 50%, extending a rally that saw prices for the metal nearly triple in 2020......»»

Global demand for gold fell last year to its lowest level since 2009, as the coronavirus pandemic drove weakness in consumer demand for the precious metal, the World Gold Council reported Thursday......»»

Uranium has outperformed major commodities this year, even as the energy sector has suffered from a drop in petroleum demand tied to the coronavirus pandemic......»»

The world is rapidly running out of space to store crude oil and producers may finally have to admit defeat and cut output after prices fell below zero this week with supply overwhelming demand as economies slump in the wake of the coronavirus pandemic......»»

Some U.S. states have seen gasoline prices at the pump drop to their lowest levels in more than a decade as travel restrictions aimed to stem the spread of the coronavirus pandemic continue to hurt demand for fuel......»»

Asian shares were poised to track Wall Street's gains on Thursday on hopes the coronavirus pandemic is nearing a peak and that governments would roll out more stimulus measures......»»

The S&P 500 was on track to recover about $1 trillion in market value in a furious rally on Monday after a drop in the daily death toll in New York, the country's biggest coronavirus hot spot, raised hopes that the pandemic could level off soon......»»

The S&P 500 was on track to recoup about $1 trillion in market value in a frantic rally on Monday after New York, the biggest U.S. coronavirus hot spot, reported a fall in daily deaths, raising hopes that the pandemic could level-off soon......»»

Asian shares extended their rally on Wednesday in the wake of Wall Street's big gains as U.S. Congress appeared closer to passing a $2 trillion stimulus package to curb the coronavirus pandemic's economic toll......»»

Oil prices recently fell to a three-month low, and U.S. benchmark crude is on track to suffer a loss of nearly 15% in January as coronavirus intensifies the impact of seasonal weakness in the market, raising prospects for lower fuel prices......»»

Arctic weather in much of the U.S. in November lifted prices for natural gas to their highest level since March, but ample U.S. supplies of the heating fuel have put the commodity on track for a loss for the month......»»

Palladium futures drop by nearly 7% on Thursday, on track for their largest one-day loss in over four months and leading broad declines in the New York metals market......»»

Palladium’s record prices have grabbed the spotlight. but at nearly half the cost per ounce, platinum, its sister metal, deserves attention too......»»

An impressive rally has lifts prices for gold back to 2013 highs, while palladium prices have notched records......»»

An impressive rally recently lifted prices for gold back to their highest levels since 2013, while palladium prices creep back toward the record highs they saw in March......»»

Palladium is losing some of its luster after a record run. But can it find fresh reasons to mount a new, sustained rally?.....»»

With a more than 30% jump in prices so far this year, rhodium now costs more than twice what gold or palladium do. Despite that, the precious metal hasn’t attracted much attention from investors. Here’s why......»»

Palladium futures rally Friday to their highest settlement on record, extending last year’s advance and narrowing their price spread with gold to the smallest in roughly 16 years......»»

Palladium futures touched their highest levels on record Tuesday, as strength in U.S. vehicles sales bode well for the metal used in catalytic converters, which reduce emissions from gasoline-powered engines......»»