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Palladium is still more expensive than gold. But will it last long?

Olymp Trade

Gold began to grow actively a week ago, while there was a local correction on palladium chart. It set a new high near $1400 per troy ounce and then corrected to $1272. Increased volatility helped the commodity: palladium rowed down gold in value, despite having started growing simultaneously.
The bulls will possibly try to enter the $1400 zone again. In this case, a double top pattern is quite likely to be formed. After such a long and steady trend, increased volatility does not provide buyers with new opportunities. Most likely, a medium-term correction will soon begin, the only question is the price when it might start.
It is obvious that the current price is purely speculative and is not caused by any fundamental factors. Moreover, too high of a cost of the metal will play a nasty trick on it. It may be substituted for cheaper metals, and the demand for palladium will fall.

Olymp Trade Review

Source: https://olymptrade.com/
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