Palladium futures fell below $1,490 per ounce, extending their decline as a stronger US dollar and rising Treasury yields continued to pressure precious metals. The broader sell-off across platinum-group metals coincided with solid gains in the dollar at the start of the week, underpinned by mounting geopolitical uncertainty in the Middle East.
Hopes for a near-term diplomatic resolution dimmed after Donald Trump halted a planned initiative over the weekend, indicating that further negotiations would depend on Iran taking the first step. At the same time, oil prices surged, intensifying inflation concerns. Brent crude climbed about 2% to trade above $107 per barrel, reinforcing expectations that interest rates may stay elevated for longer.
Despite the recent pullback, palladium remains on a strong upward trajectory, advancing 4.08% over the past month and soaring 58.28% over the past year.
