Palladium futures slipped below $1,800 an ounce, retreating from $1,950 on January 12, as short-term supply chain concerns and risk-off sentiment eased. US President Donald Trump announced a temporary delay on import tariffs for critical minerals, including palladium, opting instead to secure supplies through international partnerships. The move eased market fears of potential disruptions in key metals. Meanwhile, geopolitical tensions have eased as domestic protests in Iran have markedly subsided since the start of the week. The Trump administration signaled a measured approach, emphasizing observation and keeping all options open rather than immediate military escalation. On the monetary policy front, data signaling resilience of the US job market further reduced market bets on near-term Federal Reserve rate cuts and removing a key support for metals prices.
