Bearish
Palladium prices decline to $1,172.50 amid stronger US dollar and rising Treasury yields.
Over the past 24 hours, palladium prices have fallen to $1,172.50 per ounce, reaching a one-year low. This decline is attributed to a stronger US dollar and elevated Treasury yields, which have made dollar-priced metals more expensive for overseas buyers. Additionally, expectations of weaker automotive demand and a shift toward a market surplus, due to declining gasoline vehicle production and higher recycling, have added to the downward pressure on palladium prices.
Key points
- Palladium prices drop to $1,172.50 amid stronger US dollar and rising Treasury yields.
- Expectations of weaker automotive demand and market surplus pressure palladium prices.
- UBS maintains cautious long-term outlook despite raising near-term palladium price forecasts.
Sources
AI-generated from public news sources. Not financial advice.
