16.01.202610:15:02UTC+00Palladium Retreats on Tariff Delay and Iran Tensions

Palladium futures have declined, slipping below $1,800 per ounce after previously reaching $1,950 on January 12. This decrease is attributed to a reduction in short-term supply chain concerns and a lessening of risk-off sentiment. In a significant development, US President Donald Trump announced a postponement of import tariffs on critical minerals, including palladium, choosing instead to pursue secure supplies through international collaborations. This decision has alleviated market fears about potential disruptions in the availability of essential metals.

In parallel, geopolitical tensions have eased notably as domestic protests in Iran have significantly diminished since the beginning of the week. The Trump administration has adopted a measured stance, choosing to monitor the situation closely and maintaining a range of options rather than immediately resorting to military measures.

On the monetary policy front, data suggesting the robustness of the US job market has led to a decrease in market expectations regarding imminent Federal Reserve rate cuts, removing a key support for metal prices.