Russia’s invasion of Ukraine caused supply concerns and lit a bullish fuse under palladium prices in 2022. However, the price had been rallying sine the 2008 low of just over $160 per ounce.
The last time I wrote about palladium on Barchart was back in May 2024, when I suggested that palladium, and its precious cousin, platinum, offered “an alternative to high-flying gold and silver for value investors seeking precious metals exposure.” Palladium was trading at $1,005.50 per ounce on the June 2024 NYMEX futures contract on May 22, 2024. At the $950 level on March 5, 2025, the June 2024 NYMEX futures contract was lower, but palladium futures continue to trade around the $1,000 pivot point.
