Palladium Hits 21-month Low

Palladium futures fell below $1,400 per ounce, easing after a brief period of stabilization as investors assessed the inflationary impact of rising energy prices and growing expectations that interest rates may remain elevated for longer. Renewed US military strikes on Iranian targets near the Strait of Hormuz deepened concerns over global energy supply disruptions, pushing Brent crude up 2% to $96.15 per barrel and reinforcing expectations that major central banks may delay monetary easing. A stronger US dollar and higher Treasury yield outlook also weighed on sentiment toward non-yielding precious metals. Still, palladium continued to draw support from tight supply conditions, as ongoing production challenges in South Africa and uncertainty surrounding Russian exports kept supply concerns elevated. Despite recent weakness, palladium prices remain 42.87% higher than a year ago, although they have fallen 6.19% over the past month.

Palladium decreased 41.35% to 814 USD/t.oz

Palladium decreased to 814.00 USD/t.oz, the lowest since August 2024. Over the past 4 weeks, Palladium lost 5.51%, and in the last 12 months, it increased 44.54%.