We are pleased to inform you that FxPro has expanded its Metal CFD range with the new addition of Palladium. The price of Palladium increased about six-fold from 2016 to mid-2021, peaking above $3,000 per ounce. The boom in interest in metal is due to its widespread use in electric vehicles.
In recent months, however, the price of Palladium has dipped to $2,000 as a shortage of semiconductors leads to a reduction in car production, and the global economic recovery lost some steam.
Palladium is a more volatile and cyclical metal than Gold as it is more tied to production cycles and moves with greater amplitude than Gold and Platinum. Palladium can be used in trading strategies for or against the electric car boom.
You can now trade this new precious metal on the FxPro platforms!
Please note that the trading hours for Platinum have also been extended, so all spot metals can now be traded 23 hours a day, with an hour closure between 10pm – 11pm UK time