In Q2 2025, silver, platinum, and palladium showed bullish formations, with palladium futures rising 10.63% in Q2 and 21.69% in the first half of 2025, settling at $1,107.10 per ounce by June 30 and climbing to over $1,370 in July. Palladium’s price reached $1,373.50 per ounce in July 2025, the highest since June 2023, breaking the bearish trend since March 2022’s record high of $3,425 per ounce. Total palladium mine production in 2024 was approximately 190 metric tons, with Russia and South Africa accounting for 77.4% of the world’s annual output.

Sanctions on Russia and U.S. tariffs on South Africa could affect palladium imports into the U.S., causing uncertainty in the market. The U.S. administration’s trade barrier policies could also influence the palladium market. Palladium’s low liquidity can lead to price volatility, as seen in the rally to the record high in March 2022. Palladium futures, currently around $1,150 per ounce, are trending higher after a low of $813.50 in August 2024.

The NYMEX palladium market faces technical resistance at $1,373.50 per ounce and support at $1,077.50 as of August 5, with palladium below the midpoint of these levels. The Aberdeen Physical Palladium ETF (PALL) offers a liquid investment option, holding physical palladium bullion. Palladium futures and PALL saw significant rallies in 2025, highlighting potential opportunities for investors. Expect volatility in the palladium futures market due to its low liquidity and external factors influencing prices.

Read more at Yahoo Finance: Will Palladium’s Rally Continue?