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Why is palladium falling nearly 8% from day’s highs? Know the reasons
Palladium prices witnessed a sharp correction on Thursday, January 29, falling nearly 8% from intraday highs to trade near $1,966 per ounce, as heavy selling pressure swept across global metal markets. The decline comes amid a broader sell-off in precious and industrial metals, triggered by global pressure and aggressive profit selling. One of the key reasons behind the fall is profit booking after recent gains. Palladium had seen a sharp run-up in previous sessions, prompting traders to lock in profits once prices began to soften. As selling intensified, prices quickly moved lower during the session. Palladium was ... (full story)