---
title: "Palladium Climbs to Three-Year High"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/273656581.md"
description: "Palladium futures have surged above $2,000 per ounce, reaching a three-year high due to intensified supply concerns and geopolitical risks. Reports of potential 100% tariffs on Canada if it proceeds with a trade deal with China have raised fears of disruptions in North American metal flows. UBS has increased its palladium forecast by $300 to $1,800, driven by strong investment inflows. Despite a decline in industrial use due to electric vehicles, tight supply and ongoing investor interest suggest further price increases are likely."
datetime: "2026-01-26T06:39:51.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/273656581.md)
  - [en](https://longbridge.com/en/news/273656581.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/273656581.md)
---

# Palladium Climbs to Three-Year High

Palladium futures rose above $2,000 per ounce, the highest in over three years, as supply concerns intensified amid heightened geopolitical risks.

Reports over the weekend that Canada could face 100% tariffs if it proceeds with a trade deal with China raised fears of potential disruptions to North American metal flows, given Canada’s status as a major global producer of palladium.

Supporting prices further, UBS recently raised its palladium forecast by $300 per ounce to $1,800, citing strong investment inflows.

Demand was also bolstered by China, where the launch of yuan-denominated platinum futures in Guangzhou boosted trading activity across the platinum group metals.

Year-to-date, palladium has gained 25.78%, and although industrial use in automotive catalytic converters has softened due to the rise of electric vehicles, tight supply and continued investor interest suggest further gains in the near term.

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- [PALL.US](https://longbridge.com/en/quote/PALL.US.md)
- [PHPD.UK](https://longbridge.com/en/quote/PHPD.UK.md)
- [1PAS.UK](https://longbridge.com/en/quote/1PAS.UK.md)

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