Couverture de Palladium's Wild Ride: Vanessa Tracks the Shiny Metal Behind Your Catalytic Converter

Palladium's Wild Ride: Vanessa Tracks the Shiny Metal Behind Your Catalytic Converter

Palladium's Wild Ride: Vanessa Tracks the Shiny Metal Behind Your Catalytic Converter

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This is your Daily Palladium Price Tracker with Vanessa Clark podcast.

Hey friends, welcome to Daily Palladium Price Tracker with Vanessa Clark. Im your host Vanessa, and today were diving into the latest on palladium, that shiny metal powering catalytic converters in cars and shaking up markets.

Right now, as of early trading today, palladium is hovering around 1694 dollars per ounce according to Fortune reports, after dipping from recent highs near 2200 dollars. Trading Economics notes it dropped over 5 percent recently to about 1616 dollars, pressured by a stronger US dollar and some profit-taking across metals. Fortrade pins it at 1670 dollars, showing that volatility we love to track. Over the past year, its up a massive 63 percent or more, thanks to tight supply from big producers like Russia at 33 percent of global output and strong demand from autos in North America and Europe.

Why the swings? Russias Nornickel, the top producer, expects ongoing deficits of around 100 thousand ounces this year, with geopolitical tensions keeping supply limited. Hybrids and gasoline cars still need palladium, but watch for substitution to platinum if prices stay high. Upcoming US and China inflation data this week could spark moves, so keep an eye out.

Actionable tip: If youre thinking metals for your portfolio, consider no more than 15 percent in palladium or similar via ETFs to hedge inflation without overexposing to auto sector ups and downs. Its above key support at 1350 to 1450 dollars, hinting at upside potential.

Thanks for joining me on Daily Palladium Price Tracker. Subscribe, tune in tomorrow for fresh updates, and chat soon!

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