---
title: "Palladium Price Outlook for August 2024"
site: "Monex Precious Metals"
domain: "https://www.monex.com/"
type: "Post"
description: "Explore the latest palladium market trends and price forecasts for August 2024. Will demand push prices higher?"
last_updated: "May 1, 2025"
canonical_url: "https://www.monex.com/palladium-price-outlook-august-2024/"
markdown_url: "https://www.monex.com/palladium-price-outlook-august-2024.md"
---

# Palladium Price Outlook – August 2024

“Palladium Price Outlook

Palladium prices remain in the negative trend that they have been in for several quarters. The most recent market turmoil pushed palladium prices to an intraday low of $813.50 on 5 August. While prices have now recovered from these lows, this was the lowest level that prices had reached since June 2017.

As in the case of platinum, the forecast weakness in palladium total supply is the primary factor that has helped support palladium prices despite weak palladium fabrication demand fundamentals. That said, palladium prices are at risk heading into the second half of this year, especially if economic conditions deteriorate as expected.

Palladium prices are likely to move sideways with a downside bias in the coming months. On the upside, palladium prices have strong resistance at the $1,040 level. On the downside $880 has provided healthy support, with prices only making quick dips below this level. If economic conditions deteriorate quicker than expected a stronger, more sustained decline below $880 cannot be ruled out.”