Platinum and Palladium Price Forecast: Platinum Leads as EV Risks Grow
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Key Points:
- A weaker US dollar may support platinum and palladium prices.
- Tight supply gives platinum the stronger fundamental outlook.
- Rising electric vehicle sales may limit palladium’s long term gains.
Platinum (XPL) and palladium (XPD) prices opened the week with a positive note as the lower oil prices improved the sentiment across precious metals. In my opinion, platinum has the stronger outlook due to tight supply conditions. Palladium may recover in the short term but faces pressure from rising electric vehicle sales. This article presents the macro drivers, supply conditions, vehicle demand and price levels that may shape the next move in both metals.