Palladium30 Jun 2024 09:43
Good forecast
Palladium prices reached a 3-week high of approximately $960 as investors rush to cover short positions in response to a tight physical supply market. Despite a 13% decline in prices so far in 2024 due to concerns about decreased demand from the electric vehicle industry, the current increase is driven by optimistic sales projections for hybrid cars, which depend heavily on palladium. With above-ground stock levels at their lowest since 1980, and more shortages anticipated in 2024 and 2025, analysts forecast that the ongoing deficit will push prices upwards throughout the year.