Palladium futures rebounded to a 6-week high of $2,800 per troy ounce in July, tracking gold prices higher, amid a retreat in US Treasury yields which can compete against precious metals for safe-haven demand and as the recent dollar rally eased. The long-term outlook for palladium remains optimistic, as tighter car pollution standards in Europe and China are pushing up the demand for the metal, which is used in catalytic converters and stands as a cheaper alternative to rhodium.
Historically, Palladium reached an all time high of 3017.18 in May of 2021. Palladium - data, forecasts, historical chart - was last updated on July of 2021.
Palladium is expected to trade at 2768.34 USD/t oz. by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 3228.59 in 12 months time.