Precious metals vitality fails to stir palladium

Dec 16, 2004 | 03:59 AM | Julie Bresnick

Despite an across-the-board gain in precious metals prices, palladium continues to linger at year-long lows.

"Palladium's at 12-month-plus lows because the fundamentals are poor," one trader said. "It's a nervous market--year-end producer selling combined with sales, care of the Russians, and (liquidation of positions held by) net longs getting tired of staring at their positions."

Jeffrey Christian, managing director of CPM Group, New York, agreed that stale longs were contributing to the down side, but didn't believe the Russians were selling into the market.....

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