Palladium Tumbles Most Since 2011 in New York as Gold Slides
- China's palladium imports slumped 42 percent in July
- Gold futures post the biggest decline in more than a month
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Palladium fell by the most since 2011 on concerns that the market is heading for oversupply. Gold dropped as gains in U.S. consumer confidence damped demand for a haven.
In South Africa, mine output of platinum and related metals, including palladium, surged 84 percent in June from a year earlier, official data showed Tuesday. The country is the world’s top palladium producer after Russia. Futures in New York plunged as much as 8.1 percent, the most since December 2011.