My Q1 2023 quarterly report on precious metals on Barchart highlighted the 5.97% decline in 2022 and the 18.35% drop over the first three months of 2023. Nearby NYMEX palladium futures fell to a $1,336 per ounce low in March 2023 after rising to a $3,380.50 high in March 2022. The move to the record peak came after Russia invaded Ukraine, igniting supply concerns.
Meanwhile, nearby palladium prices closed Q1 at the $1,466 level and moved higher in April. In early May 2023, the price was back near the Q1 closing level, but palladium may have found a significant bottom in March 2023 at $1,336 per ounce.
