Platinum Group Metals (PGMs) Struggle as Palladium and Platinum Prices Dip

Platinum Group Metals Struggle as Palladium and Platinum Prices Decline

Platinum Group Metals (PGMs) are facing pressure at the start of Thursday's trading session. Palladium (XPD) is trading at $950.05 per troy ounce, down from its previous closing level of $955.70. Meanwhile, Platinum (XPT) is also under pressure, trading at $981.59, following a previous close of $984.30.

Both metals are struggling amid a subdued market sentiment, reflecting broader market dynamics and trading conditions. The decline in Palladium and Platinum prices marks a continuation of downward pressure seen in recent days, as market participants closely monitor factors affecting the precious metals sector.

Despite the dip, traders and analysts will be looking for potential signs of stabilization or reversal, as PGMs are prone to volatility driven by factors such as industrial demand and geopolitical factors. However, for now, both Palladium and Platinum remain under pressure as the European trading session begins.