Gold 
“Palladium Price Outlook
Palladium prices have fallen to levels last seen in 2018. While palladium prices could rebound some in the short term, over the long-term palladium prices appear to be headed down.
In the short term, palladium prices could find support from overall strength in the precious metals sector as well as typical seasonal strength during this time of the year.
Prices could also find support on concerns regarding mine supply disruption due to a plan to lay off workers at Sibanye’s U.S. and South African platinum group metal mines. Similar discussions of layoffs are being held at Anglo Platinum’s South African PGM mines, meanwhile,
Impala platinum is offering voluntary job cuts. While these miners are not talking about reducing supply at this time, concerns that labor cuts could result in labor related disruptions to mine supply should help provide some short-term support to prices.
In the long-term palladium supply is expected to decline, but palladium fabrication demand is expected to weaken at a faster pace, resulting in massive surpluses which are expected to depress palladium prices.
In the short term too, palladium is particularly vulnerable to the ongoing growth of battery electric vehicles (BEV) market share. This coupled with a slowing in economic growth during 2024 is expected to weigh on passenger vehicle demand and consequently on palladium prices.
Palladium prices look oversold at this time and a short term rebound in prices toward $1,000 is possible, but a decline toward $840 should not be ruled out.”
*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.
