Palladium Slumps to Lowest in Three Months Amid Demand Concerns
- Car sales in Canada slip, adding to signs of weaker use
- A rise in interest rates in U.S. could hurt car sales: RJO
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Palladium futures tumbled to the lowest in more than three months amid signs of weakening investment and physical demand for the metal used in auto pollution control devices.
Automobile and parts dealer sales fell 0.5 percent in August to C$10.9 billion ($8.17 billion), leading the third straight decline in the nation’s retail sales, Statistics Canada said Friday in Ottawa. In the U.S., sub-prime borrowers are falling behind on their car loan payments at the highest rate in more than six years, S&P Global Ratings said earlier this month.