Palladium is up by 5%

Palladium increased 5% to 1312 USD/t.oz

Palladium traded around $1,250 per ounce, lingering near eight-month lows, as precious metals remained under pressure amid renewed Middle East tensions. Fresh US strikes pushed oil prices higher, fueling inflation concerns and casting doubt on a fragile ceasefire and broader peace prospects, while the Strait of Hormuz remained nearly closed. Rising energy costs heightened inflation fears and the risk of further central bank tightening, weighing on non-yielding assets. Additionally, palladium faced pressure from weaker catalytic converter demand due to the shift toward electric vehicles. However, losses were capped by tight supply conditions, including disruptions in South Africa and uncertainty over Russian exports.

Palladium decreased 5.21% to 1265.5 USD/t.oz