---
title: "Palladium Market Outlook – November 2026"
site: "Monex Precious Metals"
domain: "https://www.monex.com/"
type: "Post"
last_updated: "November 12, 2026"
canonical_url: "https://www.monex.com/palladium-market-outlook-november-2026/"
markdown_url: "https://www.monex.com/palladium-market-outlook-november-2026.md"
---

# Palladium Market Outlook – November 2026

Palladium Price Outlook

“Palladium has been the worst performing precious metal, with prices at the start of November 2026 slipping to levels last seen in November 2016. The palladium market is overly reliant on the global passenger vehicle market and this sector is being hurt both in terms of global volumes as well as the increase in battery electric vehicle market share. There are a few bright spots for palladium like demand from the electronics sector as well as the fact that now palladium is at a meaningful discount to platinum. If palladium is able to sustain its discount to platinum, it will eventually encourage substitution of platinum with palladium where feasible. The extent and timing of any such substitution will depend on catalyst manufacturers’ ability to adjust metal loadings and the economics of doing so, however.”

The full Precious Metals Advisory report is available directly from CPM Group. For more information, visit their website, [www.cpmgroup.com](https://cpmgroup.com/store/)