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Market Update: Palladium Slumps to 3-Month Low
Palladium futures traded below $2,600 per troy ounce, a level not seen since late March, as a stronger dollar on the back of a surprisingly hawkish tone prompted some profit-taking in precious metal markets. Still, the long-term outlook remains optimistic, as tighter car pollution standards in Europe and China are pushing up the demand for the metal, which is used in catalytic converters and stands as a cheaper alternative to rhodium. [/s2If]
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