Gold 
“Palladium Price Outlook
Palladium continued to be the only exchange traded precious metal that ended the month lower than where it started the month.
Palladium prices did rise during the first three weeks of May alongside the other precious metals, reaching an intraday high of $1,048 on 21 May a day after gold hit a fresh record high. All precious metals had softened during the last 10 calendar days of May, but the weakness in palladium was particularly strong. Palladium’s long term and short-term price trends have been down.
The metal has been making lower highs and lower lows over the past two months, at a time when other metals have been rising. Prices have managed to stay above the lows that were reached in February, however. There has been some uptick in purchases from investors that should help keep palladium prices supported. Prices have largely been moving between $900 and $1,100 since last November.
A period of consolidation as well as the fact that palladium is now trading at a discount to platinum is likely to draw some interest from bargain buyers. There are some palladium fabrication demand fundamentals like healthy passenger vehicle demand in most markets and a slowing of electric vehicles adoption that could provide some weak support for palladium prices, but the negatives – especially the abundance of palladium supply at this time – are likely to continue acting as headwinds to palladium prices.
Palladium prices are forecast to spend much of the next few months between $900 and $1,050. Prices could break out of this range from time to time but a fall below $840 or increase above $1,120 is unlikely.”
*This information is solely an excerpt of a third-party publication and is incomplete. Please subscribe to the referenced publication for the full article. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.
