Gold 
“Palladium Price Outlook
Similar to platinum, the rally in palladium prices at the start of May fizzled out as the month progressed.
Palladium’s fundamentals do not make a compelling case for stronger palladium prices at this time. A combination of lost demand due to the substitution of palladium with platinum in gasoline autocatalysts, the rise in market share of battery electric vehicles (BEVs), and reduced demand for consumer electronics has made it hard for palladium prices to break out of its downward trend, which has been in place since reaching record high levels in early 2022.
Prices have strong support around $1,340. But given that the palladium market, like the rest of the precious metals complex, is entering a period of seasonally weak prices, a break below this level is possible. If prices do break below this level first support for palladium is positioned at $1,290, with next support at $1,190. In the absence of a supply disruption, a decline in prices as mentioned above is fairly likely over the next few months.”
*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.
