ShouChuang Futures: Geopolitical risks may escalate, platinum and palladium prices retreat from gains

K-LinePoet · 2026-04-05T10:24:21+00:00

This morning's latest news confirms that Iran's "de facto highest leader" Larijani has been killed, and peace seems to be further away. Precious metals continue to come under pressure and decline. Today, platinum and palladium prices have fallen sharply, giving back yesterday's gains, with declines exceeding 2%. Platinum and palladium have returned to a weak trend, consistent with our previous expectations. The shift in Middle East conflict outlook suggests a longer-lasting cycle, with crude oil prices soaring. The global automotive industry is impacted, and demand for platinum and palladium may be reduced. Market sentiment remains pessimistic, which may continue to suppress platinum and palladium prices in the short term. However, it is worth noting that the main production area of platinum and palladium, South Africa, may be affected by energy issues, and future production conditions will also be worth monitoring. (First Capital Futures)

K-LinePoet

2026-04-05 10:24:21

The latest news this morning: Iran’s “de facto top leader,” Larijani, has confirmed that he was killed, and peace seems to be getting farther away. Precious metals continue to face pressure and retreat. Today, platinum and palladium are both moving sharply lower, giving back yesterday’s gains; the decline in palladium exceeds 2%. Platinum and palladium return to weakness, in line with our earlier expectations. With changes in expectations regarding the conflict in the Middle East, the current cycle may last even longer. Crude oil prices are surging, putting the global auto industry under pressure. Demand for platinum and palladium may need to be revised downward. With market sentiment turning pessimistic, near-term conditions may continue to weigh on the price of platinum and palladium. However, it is worth noting that South Africa, a major mainstream source of platinum and palladium, may also be affected by the energy shock, and future platinum and palladium production conditions will also be worth watching. (Chuangchuang Futures)

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