Palladium to continue to lag other precious metals, says UBS

Palladium Market Performance: UBS analysts report that palladium is the worst-performing precious metal this year, with a 12% decline attributed to volatility and a challenging demand outlook. Despite a temporary price spike due to speculation about G7 sanctions on Russian exports, prices have fallen below $1,000 per ounce.

Long-term Outlook: UBS maintains a neutral 12-month outlook for palladium but warns of a negative long-term perspective due to anticipated oversupply as the auto industry shifts towards battery electric vehicles, reducing reliance on palladium-based autocatalysts.