Palladium Price OutlookPalladium prices rose to a nine-month high at the end of September, before easing somewhat at the start of October. On 5 October, palladium closed the day at USD 1,061 per troy ounce, which was up 7.4% from the same day of the previous month. In addition, the price was up 14.1% from the corresponding day last year. The price was also near the highs seen at the start of the year and was 0.5% higher on a year-to-date basis. A supply deficit and healthy demand for the metal fueled palladium’s upward momentum in recent weeks. The market has languished in a supply deficit for years with demand for the metal outstripping mine production. On the demand side, a healthy global economy and positive outlook for the automobile sector is driving the price higher. Palladium is used as an input in gasoline-powered automobiles and demand for the product is expected to rise going forward, especially in Europe due to increasing demand for gasoline-powered cars. Emissions cheating scandals have spelled the end to some subsidy programs for diesel manufacturers, which should allow gasoline-powered cars to compete better for market share.
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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