Palladium hits highest level in two weeks
Istanbul, Jan. 12 (Hibya) – Palladium futures, supported by the broad rally in precious metals driven by expectations of interest rate cuts by the U.S. Federal Reserve and rising market uncertainty, rebounded from recent lows to climb to $1,873 per ounce, reaching their highest level in two weeks.
Market participants are expecting two 25-basis-point rate cuts in June and September, potentially signaling a more accommodative monetary policy environment.
The precious metal palladium also drew support from safe-haven flows following a U.S. federal investigation targeting Federal Reserve Chair Jerome Powell. Political tensions between U.S. President Donald Trump and the Fed undermined confidence in the U.S. administration, boosting demand for precious metals.
In a separate development, Bank of America raised its average price forecasts for platinum and palladium for 2026. In addition, ongoing supply tightness due to trade disruptions and strong demand from China, which continues to support the physical market, also played a role.
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