Why are Palladium Prices so high?
05-02-2026 - Over the past month, the price of Palladium on the NYMEX has seen a slight decrease, moving from $1,742.2 per ounce to $1,726.2 per ounce. This modest decline suggests fluctuations in the market, possibly due to changes in demand or supply dynamics. The forecast for Palladium is set at $1,740.0 per ounce, representing a 0.8% increase from the current price of $1,726.2 per ounce. This indicates a generally stable trend with minimal risk, as the price change is only $13.8 per ounce.
Despite the forecasted increase, there is a significant downward pressure of $30.3 per ounce due to demand factors, particularly influenced by the global economy. While supply data suggests upward pressure, the overall sentiment remains bearish due to declining demand, flows, and technical indicators.
Recently, the palladium market has experienced notable price increases, with a rise of over 6% attributed to stronger demand and a weaker US dollar. In response, Bank of America Securities has adjusted its 2026 palladium price forecast to $1,725 per ounce, up from a previous estimate of $1,525. This revision reflects expectations of sustained demand and supply constraints. These developments support the forecasted price increase to $1,740.0 per ounce for the upcoming month.
Despite the forecasted increase, there is a significant downward pressure of $30.3 per ounce due to demand factors, particularly influenced by the global economy. While supply data suggests upward pressure, the overall sentiment remains bearish due to declining demand, flows, and technical indicators.
Recently, the palladium market has experienced notable price increases, with a rise of over 6% attributed to stronger demand and a weaker US dollar. In response, Bank of America Securities has adjusted its 2026 palladium price forecast to $1,725 per ounce, up from a previous estimate of $1,525. This revision reflects expectations of sustained demand and supply constraints. These developments support the forecasted price increase to $1,740.0 per ounce for the upcoming month.
What is the current / spot price of Palladium?
Palladium Price Today
February 6, 2026
Current Price
1726.2
$/t
What is the forecast for the price of Palladium?
Palladium Price Forecast
February 9, 2026
1 Month Forecast
1740
$/t
1 Year Forecast
1551.6
$/t
What are the short-term drivers of Palladium prices?
Over the 1 Month horizon the outlook is moderately bullish due to drivers such as: - Long term price trends - The shape of the futures curve Br(None) The top contrary drivers for the 1 Month horizon are: - The net positions of speculators on NYMEX - Short term price trends - Seasonality trends for the prediction week of year
What are the long-term drivers of Palladium prices?
Over the 1 Year horizon the outlook is bearish due to drivers such as: - Palladium Stocks (CMX) - Short term price trends Br(None) The top contrary drivers for the 1 Year horizon are: - EWMA-based technical analysis - Eurozone Equities - The shape of the futures curve
Will the price of Palladium go up?
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1 Week
1 Month
3 Month
6 Month
1 Year
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