Gold 
Palladium Price Outlook
“Palladium prices rose over the course of June, bouncing off the lows of the range palladium prices have been stuck in for much of this year. Palladium prices have largely been moving between $875 and $1,115 since the start of 2024.
Palladium prices are approaching the upper bounds of this range during the first week of July. Prices are expected to continue moving in a sideways fashion within the $875 and $1,115 range over the next few months. For prices to break out to the upside of this range in a sustainable way would require fabrication demand fundamentals to improve. There are too many headwinds to palladium fabrication demand, with an ongoing increase in market share of battery electric vehicles (BEVs) especially in China, ongoing substitution of palladium with platinum, and slowing passenger vehicle demand in a few major auto markets to allow a sharp increase in palladium prices above this range. That said, a decline in total palladium supply, driven primarily by a reduction in mine supply is expected to be supportive of palladium prices.”
*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.
