FX.co ★ Palladium Hits Three-Week High

Palladium futures climbed above $1,700 to a three-week high, driven by mounting short-term supply concerns amid heightened geopolitical tensions. Markets are assessing the risk of potential disruptions tied to US–Iran nuclear talks, with negotiations set to resume in Geneva on Thursday against a backdrop of continued military buildup and strategic pressure.

Further support for prices comes from the preliminary US decision, announced in mid-February 2026, to impose a 132.83% antidumping duty on Russian palladium imports. Given the metal’s highly concentrated supply base and its critical role in automotive catalytic converters, the Commerce Department’s final ruling in April, followed by the US International Trade Commission’s injury determination in June, is expected to keep supply risks elevated and encourage cautious positioning among industrial users and trading accounts.