Palladium Extends Gains to One-Week High

Palladium futures gained to around 1,350 per ounce, extending gains to a one-week high, as a weaker US dollar and renewed demand for precious metals supported prices. The dollar weakened after the US Treasury unexpectedly increased long-dated debt buybacks, with Treasury Secretary Scott Bessent signaling purchases could exceed $4 billion per issue, initially easing yield pressures and supporting non-yielding metals. Palladium also benefited from broader precious-metals gains, with gold on track for a third straight weekly gain. However, rebounding Treasury yields and higher energy prices could limit gains by keeping inflation risks and rate-hike expectations elevated. Meanwhile, heightened tensions between the US and Iran, including threats of tougher economic measures, supported safe-haven demand. On the supply side, concerns over lower Russian palladium output and reduced refined production from South African processing disruptions continued to provide underlying support.



