Palladium, gold touch nearly fourweek low
Silver touches lowest since Feb 16
Dollar at peak since March 2020

April 25 Reuters Palladium prices fell nearly 13 on Monday as China39;s COVIDled lockdowns soured the demand outlook for the autocatalyst, while looming U.S. interest rate hikes took the shine off gold.

Spot palladium fell 9.6 to 2,146.20 per ounce by 152 p.m. ET 1752 GMT, after hitting its lowest since March 29 at 2,068.82.

Commodities across the board dipped as concerns grew over prolonged lockdowns in Shanghai and potential increases to U.S. interest rates hurting global growth and demand, which also led to a sharp selloff in equities. 

Palladium, used in vehicle exhausts to curb emissions, has retreated nearly 40 since hitting an alltime high in early March on concerns the war in Ukraine could cut supply from key producer Russia.

Much of the angst in palladium is surrounding the potential problems with the Chinese economy, said head of commodity strategies at TD Securities, Bart Melek.

With an increasing amount of that country being shut, chances are auto demand and economic activity broadly aren39;t going to be as strong as we thought, and this is offsetting a lot of the potential shortage concerns associated with the Russian sanctions, Melek added.

Russia39;s Nornickel said its firstquarter palladium output fell yearonyear.

Gold fell 1.7 to 1,897.01, while U.S. gold futures settled nearly 2 lower at 1,896.

Due to the broadbased rise in yields,…