[Platinum and Palladium Express] Interest Rate Cut Arrives as Expected, International Platinum and Palladium Futures Market Fluctuates and Pulls Back

During yesterday's night session, the most-traded NYMEX platinum and palladium contracts experienced volatile corrections. The most-traded platinum 2601 contract closed at $1,672.9 per ounce, down 1.62%, while the most-traded palladium 2603 contract ended at $1,507.0 per ounce, down 2.35%. Recent precious metal price movements have primarily revolved around expectations for US Fed interest rate cuts, spot market delivery squeezes, and the Russia-Ukraine conflict. Today, the FOMC cut interest rates by 25 basis points to 3.5–3.75% as expected, and decided that starting from 12.12, the Fed would purchase short-term Treasury bonds to maintain reserve levels in the system (RMP). The purchase scale is expected to reach $40 billion in the first month and remain at relatively high levels in the following months.