Palladium slips on profit-taking
Istanbul, February 10 (Hibya) – Palladium futures retreated from recent highs to $1,700 per ounce as investors locked in profits after strong gains, while ongoing weakness in platinum group metals weighed on market sentiment.
Markets, positioning ahead of key employment and inflation reports, priced in at least two 25-basis-point interest rate cuts in 2026, with the first expected to take place in June.
Another factor putting pressure on palladium prices was the resumption of diplomatic initiatives in the Middle East, easing concerns over a further escalation in U.S.-Iran tensions and reducing demand for precious metals. However, investors remain cautious.
Israeli Prime Minister Benjamin Netanyahu is scheduled to meet U.S. President Donald Trump in Washington this week to discuss developments in Iran negotiations and broader regional security concerns, underscoring that strategic risks in the Middle East have not fully disappeared.
British News Agency
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