Palladium futures suffered Thursday from their sharpest daily dollar decline on record, losing nearly $112 an ounce for the session to mark a significant retreat from a recent string of record settlements tied to an expected surge in auto-industry demand. June palladium US:PAM9 tumbled $111.80, or 7.9%, to settle at $1,309.70 an ounce Thursday, the lowest finish for a most-active contract since Jan. 31. Prices also saw the biggest one-day dollar decline based on records dating back to 1984, and largest daily percentage loss since May 2010, according to Dow Jones Market Data. Mark Cutifani, Anglo American’s NGLOY, -1.47% chief executive officer, said the recent rapid rise in palladium’s price has created a “bubble,” but he also believes the value of the metal is likely to remain high for some time, according to a report from the Financial Times, dated Wednesday. Immediately after the bubble comment from Cutifani, the European folktale “Henny Penny,” commonly known in the U.S. as “Chicken Little,” has “been visited upon palladium prices,” said R. Michael Jones, president and CEO of Platinum Group Metals, highlighting a well-known phrase from the story: “The sky is falling!” A “drop in Chinese car sales was the added a nut falling from the sky—and down goes the price,” Jones said. But “the facts are that supply is tight and falling, demand is growing.” Prices for the metal have climbed four months in a row through February on tight supplies and expectations for strong demand from the automobile sector because palladium is mostly used in pollution-controlling catalytic converters on gasoline-powered vehicles. Selling interest was generated from headlines touting the potential for ‘industrial rotation’ from palladium to platinum because of the recent differential of $700 between the two metals,” said analysts at Zaner Metals, in a note on Wednesday. Platinum is now much cheaper than palladium, and speculation that the industry may soon reach a point where it will be worth it to use platinum instead of palladium has grown. Nick Note: As you well know we have been shorting the shit out of Palladium… Laughing as the idiots the stupid money bid it higher and higher and higher….. I Love my job and its getting easier and easier as the millennials are given trillions in other peoples money that they do not have a clue how trade lose…..