Platinum and Palladium Forecast: Platinum Eyes $1,500 as Palladium Tests Key Support
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Key Points:
- Platinum may test the $1,500 support area before the next rebound.
- Palladium remains supported near the $900 to $1,100 region.
- Platinum may outperform palladium in the next major cycle.
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Platinum (XPL) and palladium (XPD) remain under short term pressure as higher oil prices, firm Treasury yields and a stronger US dollar weigh on demand. Platinum may test the $1,500 area, while palladium could move back toward its major $900 to $1,100 pivotal zone before the next recovery. But the long term outlook remains constructive, and the platinum-to-palladium ratio suggests that platinum may lead the next major cycle. This article examines the macro risks, key technical levels and relative performance of both metals to understand the next move.