Palladium Rises on Geopolitical Tensions and Dovish Fed Outlook
Palladium futures rose to $1,210 per ounce, the highest since early August, driven by geopolitical tensions and a dovish outlook for US monetary policy. The downing of Russian drones in Poland has led to potential EU sanctions against Russia, a major palladium supplier. US inflation data met forecasts, while rising unemployment claims support expectations for rate cuts, enhancing the appeal of precious metals. This increase in palladium prices reflects broader gains in platinum group metals due to supply pressures and automotive demand.
Palladium futures climbed toward $1,210 per ounce, the highest level since early August, amid geopolitical tensions and dovish expectations for US monetary policy.
Russian drones were shot down in NATO-member Poland, driving the EU to threaten more sanctions against Russia, which supplies nearly half of global palladium.
In the meantime, US inflation data came in line with forecasts while unemployment claims surged, reinforcing bets of more rate cuts and increasing the appeal of precious metals.
The recent rise in palladium prices also aligns with broader gains across metals in the platinum group, reflecting a combination of supply pressures and automotive demand.
