The physical market for precious metals including palladium and platinum has undergone a broad correction. As of January 7th, the spot price of palladium dropped to $1,726.25 per ounce, marking a decline of over 5%. During the same period, the spot price of platinum also fell to $2,272.65 per ounce, showing a decline of over 7%. These declines in precious metal prices appear to be the result of a combination of changes in the global economic situation and shifts in investor sentiment.