Ask palladium traders, and they’ll tell you that the semiconductor shortage isn’t just punching the automotive industry in the gut. There could be signs of life, however, with a recent technical rebound amid a rallying dollar.
Monday’s trading session saw the dollar gain strengthen as investors expect the Federal Reserve to follow through with its stimulus tapering measures. As a CNBC report noted, “Palladium advanced 1.6% to $2,110.93 per ounce, with analysts attributing the bounce to short-covering after recent declines, while platinum was last down 1.8%, to $1,008.17, after hitting a 2-month peak earlier.”
The report also said that palladium could be hitting a technical rebound as it touches its support levels (around $1,870). For the past few years, palladium was on a tear until a semiconductor shortage this year began affecting the auto industry, which relies on the metal to make emissions control…
