Palladium Price OutlookPalladium prices continued their remarkable rise over the last month, remaining above gold prices and reaching a fresh all-time high. On 8 February, palladium closed the day at USD 1,394 per troy ounce, which was 6.5% higher than on the same day of the previous month. In addition, the price was 41.5% higher than on the corresponding day last year and was up 11.4% on a year-to-date basis. The key market drivers remain much the same. Supply is constrained, with substantial supply deficits forecast for this year and next. At the same time, demand is robust despite recent signs of waning global economic momentum. This has been supported by the EU’s shift from diesel to gasoline and hybrid vehicles—which use more of the commodity in catalytic converters—following recent emissions scandals and changes to government policy. Stricter environmental legislation in China is also boosting the usage of the metal. Moreover, at the end of January the Asian giant announced measures to stimulate vehicle sales. This, coupled with speculative buying and the Federal Reserve’s more dovish monetary stance, likely added further impetus to prices.
Palladium Price History Data (USD per troy ounce, aop)
Price forecasts and historical data for Energy, Metals and Agricultural Commodities.
Palladium Historical Price Chart
Price forecasts and historical data for Energy, Metals and Agricultural Commodities
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