2026.05.2802:17:16UTC+00Palladium Trades Below $1,400

Palladium futures slipped below $1,400 per ounce, retreating after a brief period of consolidation as investors weighed the inflationary effects of rising energy prices and growing expectations that interest rates will stay higher for longer. Fresh US military strikes on Iranian targets near the Strait of Hormuz intensified worries about potential disruptions to global energy supplies, lifting Brent crude by 2% to $96.15 per barrel and reinforcing the view that major central banks may postpone monetary easing. A firmer US dollar and a higher outlook for Treasury yields further dampened appetite for non-yielding precious metals.

Even so, palladium remained underpinned by tight supply conditions, with persistent production issues in South Africa and uncertainty over Russian exports keeping supply risks in focus. Despite the recent pullback, palladium prices are still up 42.87% from a year earlier, though they have declined 6.19% over the past month.