Platinum Price Forecast: Why Platinum Will Keep Outperforming Palladium
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Key Points:
- Platinum must hold $1,650 to protect its long-term bullish structure.
- Palladium may test $1,200 as short-term selling pressure continues.
- Rising rate hike expectations remain the main headwind for both metals.
Platinum (XPL) dropped toward $1,725 while palladium (XPD) fell near $1,290 as rising oil prices, a stronger dollar and higher Treasury yields increased the risk of a rate hike in September. In my view, both metals may remain under pressure in the short term, but platinum has a stronger outlook in the long term due to tight supply and new industrial demand. This article discusses the key catalysts, technical levels and conditions that may change this outlook.