Conflict may ease, platinum and palladium rebound

On the morning of March 10, the U.S. president stated that the conflict with Iran will end “soon,” easing market panic and causing a sharp correction in crude oil prices. Today, precious metals generally rebounded, with platinum and palladium opening higher and currently up over 4%. Once crude oil prices decline, market confidence in the global economy will recover, benefiting the automotive industry, and platinum and palladium are supported to rebound. However, the key issue is Iran’s actions. At present, short-term conflicts have not been resolved, and both the U.S. and Iran have not returned to the negotiating table. Whether the Strait of Hormuz can be safely navigated remains uncertain. Global energy risks are still significant, and the rebound potential for platinum and palladium may also be limited. (Chuangchuang Research)