Platinum and Palladium Prices Surge Amid Supply Constraints and Tariff Uncertainties
Platinum and Palladium Prices Surge Amid Supply Constraints and Tariff Uncertainties
As of February 14, 2026, the precious metals market is witnessing significant movements, particularly in platinum and palladium. Both metals have experienced substantial price increases, driven by tight mine supply, tariff uncertainties, and shifts in investment demand.
Current Market Prices
| Metal | Price (USD) | Change (%) |
|---|---|---|
| Gold | 462.62 | +2.52% |
| Silver | 69.72 | +2.95% |
| Platinum | 186.98 | +3.11% |
| Palladium | 153.47 | +4.54% |
Market Drivers
- Supply Constraints: Both platinum and palladium are facing tight mine supply. Analysts have raised their price forecasts for 2026, citing these supply issues. The median forecast for platinum is $1,550 per troy ounce, up from $1,272, and for palladium, it's $1,262.50, up from $1,100. Source
- Tariff Uncertainties: The U.S. is considering new tariffs on imports of critical minerals, including those from major producer Russia. This has added another layer of uncertainty to the palladium market, potentially affecting supply and prices. Source
- Investment Demand Shifts: There has been a rotation from investment demand for gold to platinum and palladium, contributing to their price increases. This shift is influenced by broader support from gold's record-breaking rally and outflows to U.S. stocks. Source
Technical Analysis
Technical indicators suggest a bullish trend for both metals. Platinum's Relative Strength Index (RSI) is approaching overbought territory, indicating strong buying momentum. Palladium has broken through key resistance levels, suggesting potential for further gains.
Investor Sentiment
Investor sentiment remains positive, with expectations of continued price increases due to supply constraints and geopolitical factors. However, market participants should remain vigilant, as potential changes in tariff policies and shifts in industrial demand could impact prices.
In conclusion, the precious metals market, particularly platinum and palladium, is experiencing significant price movements driven by supply constraints, tariff uncertainties, and shifts in investment demand. Investors should stay informed and consider these factors when making investment decisions.
