Subdued outlook for Palladium, Platinum with more upside potential – Commerzbank

Platinum and Palladium are following different paths. Economists at Commerzbank share their forecasts for both metals.

The outlook for Platinum is more favourable

We envisage only limited upside potential for the Palladium price and confirm our price forecast for the end of 2023 at $1,600, but have recently lowered our forecast for the end of 2024 to $1,700 (previously $2,000).

We are confirming our forecast for the Platinum price at the end of 2023 at $1,150, but have raised our forecast for the end of 2024 to $1,300 (previously $1,250). 

In contrast to Palladium, structural supply deficits are looming for Platinum in the coming years.