Palladium Prices

Palladium prices averaged USD 1,267 per troy ounce in July, down 0.8% from June. On 31 July, the commodity traded at USD 1,277 per troy ounce, up 4.6% from 30 June.

Average palladium prices recorded their softest monthly decline in six months in July, though they ended the month above end-June levels. Prices averaged lower during July due to expectations of higher-for-longer U.S. interest rates and weak demand from manufacturers of internal combustion engine vehicles. However, the market likely found support from continued platinum-to-palladium substitution in auto catalysts and constrained mine supply.