Palladium prices fell nearly 13% on Monday as China's COVID-led lockdowns soured the demand outlook for the autocatalyst, while looming U.S. interest rate hikes took the shine off gold.
Spot palladium fell 9.6% to $2,146.20 per ounce by 1:52 p.m. ET , after hitting its lowest since March 29 at $2,068.82.
"Much of the angst in palladium is surrounding the potential problems with the Chinese economy," said head of commodity strategies at TD Securities, Bart Melek.
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