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11 Apr 2025

Platinum and Palladium hit by tariff conflict, downward revision of price forecasts – Commerzbank

The tariff conflict triggered by US President Trump and the resulting increase in risk aversion also put pressure on the Platinum and Palladium prices.

Tariff turmoil hits Platinum and Palladium prices

"The Platinum price fell to $900 per troy ounce at the start of the week, its lowest level in almost a year. The Palladium price slipped to $890 per troy ounce, its lowest level in eight months. At the beginning of the month, Platinum and Palladium were still trading at around $1,000. The suspension of most of the tariffs also led to a price recovery for Platinum and Palladium."

"Nevertheless, both prices remain at the lower end of the trading ranges of recent months. Uncertainty over US tariff policy is likely to leave its mark on demand, which is heavily influenced by the automotive industry, especially as US tariffs of 25% on cars came into force at the beginning of April and additional US tariffs of 25% on car parts are due to take effect in early May."

"We are taking this into account and reducing our year-end price forecast for Platinum to $1,000 per troy ounce (previously $1,100). We are also lowering our year-end forecast for Palladium to $1,000 per troy ounce (previously $1,150)."

Apr 11, 2025

Gold ETFs post strong inflows in March and the first quarter – Commerzbank

The March data on gold ETFs published by the World Gold Council this week showed a continued high buying interest among ETF investors, Commerzbank's commodity analyst Carsten Fritsch notes.
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Apr 11, 2025

USD/CHF bounces off lows near the 0.8100 zone, tariffs eyed

On Friday, Beijing dramatically ramped up tariffs on US imports to 125%, striking back at President Trump's move to hike duties on Chinese goods to 145%. This countermeasure has ramped up the tension in a trade war that now threatens to upend global supply chains.
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