The platinum and the paladium affected by the tariff conflict, downward review of the price forecasts – Commerzbank

The tariff conflict triggered by US President Trump and the increased in risk aversion also pressed the prices of platinum and paladium.

Tariff turbulence affects the prices of platinum and paladium

“The price of platinum fell to $ 900 per ounce Troy at the beginning of the week, its lowest level in almost a year. The price of the paladium slid at $ 890 per Troy ounce, its lowest level in eight months. At the beginning of the month, the platinum and the paladium were still negotiated around $ 1,000. The suspension of most tariffs also led to a recovery of prices for the Platinum and the paladium.”

“However, both prices remain at the lower extreme of the negotiation ranges of recent months. Uncertainty on US tariff policy will probably leave its mark on the demand, which is strongly influenced by the automotive industry, especially since US tariff USA 25% on car parts enter into force in early May. “

“We are taking this into account and reducing our price forecast for the final year for the platinum to $ 1,000 per Troy ounce (previously $ 1,100). We are also going down our end -of -year forecast for the paladium to $ 1,000 per Troy ounce (previously $ 1,150).”