Palladium
futures slid the most in seven months and silver fell from a four-week
high as concerns of a global economic slowdown spurred a rout in metals
used in industrial products. Gold touched the highest since October.
The
Bloomberg Commodity Index of 22 raw materials slid to a 12-year low
today, led by a plunge in copper, after the World Bank cut its forecast
for global growth this year. Palladium is mostly used with platinum in
catalytic converters that help curb harmful emissions from cars, while
silver goes into items ranging from electronics to solar panels.
Palladium
futures for March delivery dropped 4.3 percent to settle at $780.65 at
1:07 p.m. on the New York Mercantile Exchange, the biggest drop for a
most-active contract since June 12. Platinum futures for April delivery
declined 0.7 percent to $1,239 an ounce.
Gold
futures for February delivery rose less than 0.1 percent to $1,234.50
an ounce on the Comex, after reaching $1,244.60, the highest since Oct.
23.
Source: Bloomberg
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