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 Jun 22 Futures
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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 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.
Chicago SRW Wheat Futures Jul 22
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Sources: Finance.yahoo.com
