Palladium fell below $2,200 a troy ounce on September 25th for the first time since August 27th, easing further from a six-month high reached in mid-September as renewed worries about global economic growth are expected to hit the demand from the auto industry. Meantime, production at mines in major producer South Africa has slowly recovered but still remians below full capacity. On the positive side, the demand remains supported by sticker emissions legislation as it is used widely in pollution-controlled devices.
Historically, Palladium reached an all time high of 2875.50 in February of 2020. Palladium - data, forecasts, historical chart - was last updated on September of 2020.
Palladium is expected to trade at 2113.62 USD/t oz. by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1833.96 in 12 months time.