Palladium Price OutlookPalladium prices continued to fall last month, moving more in line with market fundamentals, before rising slightly in early June and now lie just slightly above gold prices which have rallied in recent weeks. On 7 June, palladium closed the day at USD 1,356 per troy ounce, which was 1.8% higher than on the same day of the previous month. Nevertheless, the price was up 7.4% on a year-to-date basis and was 32.0% higher than on the corresponding day last year. While prices remain elevated, they continued to retreat in late May, before recovering slightly in early June, likely propped up by safe haven demand amid rising trade protectionism and global growth woes. Demand for the metal, which is primarily used in car engines’ catalytic converters, has waned in recent months due to lackluster car sales in major economies. Meanwhile, weakening industrial production in China, one of the largest consumers of palladium, is likely also weighing on prices, while escalating tensions between U.S. and China spell further trouble for Chinese manufacturing demand. Likewise, the slowdown in the global tech cycle is likely also dampening demand for electronic applications.
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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