Palladium Price OutlookPalladium prices increased over the past month, likely due to tight supply levels and a weaker USD. On 11 September, palladium closed the day at USD 2,301 per troy ounce, which was up 8.9% from the same day of the previous month. Moreover, the price was 19.8% higher on a year-to-date basis and was up 45.3% from the corresponding day last year. The recent rise in prices was likely driven by a gloomy supply outlook as output from top producer South Africa—home to roughly 40% of the global supply of palladium—is expected to be hampered by heavy restrictions on the mining sector imposed earlier in the year. In addition, a softer USD due to uncertainty over a second fiscal stimulus package in recent months likely enticed suppliers to stockpile or ease output, as they predominately sell in U.S.-dollars . Furthermore, despite still-fragile global demand for automobile production, sales in China improved in August, which likely boosted demand for palladium and thus supported prices.
Palladium Price History Data (USD per troy ounce, aop)
Price forecasts and historical data for Energy, Metals and Agricultural Commodities.
Palladium Historical Price Chart
Price forecasts and historical data for Energy, Metals and Agricultural Commodities
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