Palladium Market Update – 18 December 2025

The price of palladium on the New York Mercantile Exchange settled at USD 1,684.20 per ounce on 16 December 2025, matching the 52‑week high recorded on that day. The price has remained largely flat over the past month, trading within a range of USD 876.60 to USD 1,684.20, the latter being the highest level reached since 6 April 2025.

Recent Market Dynamics

  • Silver Rally – Silver reached a new all‑time high on 17 December, exerting upward pressure on the broader precious‑metal segment. While gold and platinum confirmed solid trends, palladium’s movement was comparatively muted.
  • Platinum Deficit Forecast – Russia’s largest palladium producer, according to a Commerzbank analysis published on 16 December, anticipates a notable supply deficit for platinum in 2025. Palladium itself was described as “mostly balanced”, suggesting limited impact on its immediate pricing dynamics.
  • Four‑Year High for Platinum – A separate report on 16 December noted a 14‑year high for platinum, with palladium prices also showing a sharp increase. The parallel rise in platinum and palladium indicates a broader strengthening of the hard‑metal group.

Market Context

  • US Economic Data – The upcoming U.S. Consumer Price Index (CPI) release has been a key focus for market participants. Federal Reserve signals remain dovish, supporting precious‑metal prices, while the dollar has shown resilience.
  • Geopolitical and Economic Pressures – Tensions between the United States and Venezuela have contributed to a surge in gold and silver prices, as reported by Vietnamese media on 17 December. This volatility has also been reflected in palladium trading, albeit to a lesser extent.

Summary

Palladium closed at the 52‑week high of USD 1,684.20, maintaining a stable price corridor since early April. The metal’s trajectory has been influenced by a strong silver rally, a projected platinum shortage, and macroeconomic developments surrounding U.S. inflation data. Market participants should monitor forthcoming CPI figures and geopolitical developments, which are likely to continue shaping the precious‑metal landscape in the short term.