Palladium is down by 5.21%

Palladium decreased 5.21% to 1265.5 USD/t.oz

Palladium futures hovered near $1,300 per ounce, retreating after recent gains to trade near an eight-month low as investors reassessed the outlook for US monetary policy and global economic conditions. Sentiment across the platinum-group metals complex weakened as higher energy prices fueled inflation concerns, reinforcing expectations of elevated interest rates. Additional pressure came from a stronger US dollar, which advanced for a third consecutive session after Federal Reserve officials signaled that borrowing costs may need to stay elevated if inflation proves persistent. Market participants also turned their attention to upcoming US labor market data for further clues on the Fed's policy path. Beyond macroeconomic pressures, palladium remained weighed down by weaker catalytic converter demand amid the shift toward electric vehicles. Still, losses were limited by tight supply conditions, including disruptions in South Africa and uncertainty surrounding Russian exports.

Palladium decreased 5.03% to 1322.5 USD/t.oz