Platinum Seen Outperforming Palladium as Supply Deficits and Industrial Demand Support Outlook

Published: Sep 09, 2026 21:14 (GMT+8)

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[SMM Flash] Platinum could continue to outperform palladium over the longer term despite near-term pressure from a stronger US dollar and elevated Treasury yields, according to a September 2 analysis by FX Empire. Platinum had fallen towards $1,725/oz while palladium traded near $1,290/oz, with the analyst identifying $1,650–1,700/oz as an important platinum support zone and around $1,200/oz as key support for palladium. The analysis attributed near-term pressure on both metals partly to higher interest-rate expectations.

FX Empire argued that platinum retains stronger medium-to-long-term fundamentals because of constrained supply and potential new industrial demand. The analysis cited expectations for continued platinum and palladium market deficits alongside potential platinum demand from hydrogen-truck adoption. Palladium's longer-term outlook was described as more dependent on petrol and hybrid vehicle demand as battery-electric vehicle penetration increases. These price levels and relative-performance expectations represent analyst technical analysis and commentary rather than confirmed market forecasts.

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