Palladium Hits Highest Since June 2023

2025-10-08 10:09 By Dongting Liu 1 min. read

Palladium surged above $1,490 an ounce for the first time since 2023, supported by strong safe-haven demand and expectations of interest rate cuts.

The US government shutdown added to market uncertainty, prompting investors to reassess dollar-denominated assets in favor of bullion.

Weak US labor market data strengthened bets on further Federal Reserve cuts, with markets pricing in 25 bps reductions at each of the final two meetings.

France’s political crisis also supported prices, as President Macron faces pressure to call early elections or resign after PM Lecornu’s surprise resignation.

On the supply side, the World Platinum Investment Council projected palladium output to decline 1.1% annually through 2029.

Additionally, China established new financial infrastructure to serve as a precious metal custodian for foreign markets, further supporting prices.



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