Platinum and Palladium Price Forecast: Rebound Faces Critical Resistance Levels
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Key Points:
- Platinum could target $1,850 to $1,900 if it breaks above the key $1,700 resistance level.
- Palladium’s rebound remains limited below $1,340, with failure to break higher increasing downside risk.
- Platinum may continue to outperform palladium because of its more diversified demand base.
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Platinum (XPL) and palladium (XPD) rebounded on Wednesday, but both metals remain below the important resistance levels. In my view, platinum may stay stronger than palladium, but a break below $1,550 in platinum or $1,200 in palladium would increase the risk of another sharp decline. This article examines the latest macro drivers, key technical levels and relative performance across the precious metals market.