Palladium Forecast: Is This Bounce A Turning Point?
Palladium is starting to emerge as a strong contender in the metals market once again. After lagging behind and experiencing a sustained period of decline, it is now finding support at a pivotal level as underlying indicators suggest recovery. If the broader precious metals trend picks up, palladium may be able to become the next overperforming asset.
In precious metals investing, gold and silver rightfully get most of the attention. But their other precious metal cousins, platinum and palladium, are worth considering as they tend to move in sympathy—and can be more volatile—during the ongoing gold rally. I argue that the multi-year rally is structural and is likely to stay elevated moving forward. We can translate that structural floor to palladium too because of its sympathetic trading. Palladium is now in a very interesting situation; its price just bounced off a strong institutional support zone and looks like an opportunity for buying into a precious metals rebound. And if metals do catch a rally, palladium stands to make even more than gold based on its current setup.