Palladium price drops below platinum for first time in five years
Palladium fell by 39% in 2023 after rising prices from 2018 to 2022 caused the auto sector, accounting for 80% of demand, to start replacing it with cheaper platinum in autocatalysts.
Precious metals are back in the spotlight in 2023 as signs of economic slowdown continue to surface and cause uneasiness among investors, in turn driving up the appeal of safe havens.