Palladium Price Analysis: Can $1,150 Hold as Investors Exit the Market?
By Navnoor Bawa | Published: September 9, 2026
Overview
The article discusses the current state of the palladium market, highlighting a projected surplus for the first time since 2011. This surplus, however, is largely attributed to reversible investment flows, with a significant portion of the total supply declining.
Market Performance
On September 8, 2026, palladium experienced a notable decline of 3.61%, while platinum saw a smaller decrease of 0.66%. This shift has resulted in an increased price gap between the two metals, now standing at $469.60.
Investment Demand Analysis
According to Johnson Matthey's May report, the palladium market is expected to see a surplus of 630 koz. However, the author interprets this data differently, indicating that 497 koz of this surplus is driven by investment demand. This suggests that the market dynamics may not be as bearish as they appear at first glance.
Price Forecast
The author believes that the price of palladium could stabilize at $1,150 through the end of the year, despite the current market fluctuations. This level may serve as a support point, potentially leading to a retest of the higher price of $1,487.75 in the future.