Palladium regains footing but remains below $1000

Palladium prices rose on Friday even as the dollar inched higher against major rivals, however, the industrial metal remained below $1000.

Palladium prices are down 13% so far this year, after marking its highest level within the past 52 weeks at $1627, and the lowest level in the past 52 weeks at $854. 

Palladium is used heavily in the automotive sector, and especially in diesel cars to reduce exhaust fumes.

However, as EV cars adoption spreads, demand on internal combustion cars and palladium in turn will decline accordingly. 

Palladium’s Historical Pricing 

Across the previous decade, palladium’s instant prices wavered between $500 and $1500, beforere surging to a record high at $3440 in March 2022 following the onset of the Russian invasion of Ukraine, which disrupted supplies. 

However palladium now has lost over two thirds of its valuation due to steep increase in EV adoption rates. 

Otherwise, the dollar index rose 0.1% as of 15:43 GMT to 105.3, with a session-high at 105.4, and a low at 105.1. 

Palladium June futures due in June rose 2% to $990 an ounce as of 15:44 GMT.