Palladium is down by 7.04%

Palladium futures rose past $1,800 per ounce, rebounding from recent losses to reach a one-month high as escalating tensions in the Middle East stoked concerns over supply and broader market stability. The advance followed joint US-Israeli strikes that reportedly killed Iran’s Supreme Leader, Ayatollah Ali Khamenei, prompting US President Donald Trump to warn that combat operations would continue until objectives are met, with the possibility of further casualties. On the supply side, the market remains tight, with output disruptions in South Africa and ongoing uncertainty over Russian exports constraining available volumes. Investors are now turning their attention to a series of US labor market readings this week, a series of US labor market readings this week, including the ADP employment report, weekly jobless claims, and the non-farm payrolls report, which could later influence dollar strength and interest rate expectations.

Palladium decreased 7.04% to 1690 USD/t.oz

Palladium futures climbed over $1,700, reaching a three-week high as short-term supply concerns were amplified by geopolitical tensions. Investors are weighing the risk of potential disruptions stemming from US–Iran nuclear negotiations. The US and Iran are scheduled to resume nuclear negotiations in Geneva on Thursday, against a backdrop of continued military buildup and strategic pressure. Additional support comes from the U.S. preliminary 132.83% antidumping duty on Russian palladium imports, announced in mid-February 2026. Given the metal’s concentrated supply and central role in automotive catalysts, the Commerce Department’s final determination in April and the ITC injury assessment in June are expected to maintain elevated supply risk and underpin cautious positioning among industrial and trading accounts.