Platinum and palladium fall to multi-year lows

Platinum and palladium also find themselves under pressure. Platinum has fallen below $950 per troy ounce this morning to hit its lowest level since January 2009. 

At $590 per troy ounce, palladium has reached its lowest price since October 2012. 

Good news is having no effect here, either, in the US, 17.46 million cars were sold on a seasonally-adjusted and annualized basis in July, this is 6.5% up year-on-year and the third-highest figure since 2006. 

The higher sales figures were attributable primarily to increased demand for SUVs, which should really point to robust demand for palladium from the automotive industry, says Commerzbank.