Palladium futures slid the most in seven months and silver fell from a four-week high as concerns of a global economic slowdown spurred a rout in metals used in industrial products. Gold touched the highest since October.
The Bloomberg Commodity Index of 22 raw materials slid to a 12-year low today, led by a plunge in copper, after the World Bank cut its forecast for global growth this year. Palladium is mostly used with platinum in catalytic converters that help curb harmful emissions from cars, while silver goes into items ranging from electronics to solar panels.
Palladium futures for March delivery dropped 4.3 percent to settle at $780.65 at 1:07 p.m. on the New York Mercantile Exchange, the biggest drop for a most-active contract since June 12. Platinum futures for April delivery declined 0.7 percent to $1,239 an ounce.
Gold futures for February delivery rose less than 0.1 percent to $1,234.50 an ounce on the Comex, after reaching $1,244.60, the highest since Oct. 23.