Palladium Price Analysis: XPD/USD to surge towards $2,100 by year-end – Commerzbank

Palladium is currently trading well below $2,000. Strategists at Commerzbank expect the precious metal to soar towards $2,100 by end-2022.

Recovery potential for palladium in the coming months

“The slower demand for palladium from the automotive industry should prevent a larger supply deficit on the palladium market, provided there are no disruptions in palladium supplies from Russia.”

“As the problems in automobile production should gradually ease during the course of the year, we see recovery potential for palladium in the coming months, so that the price should rise to $2,100 by the end of the year.”