2026.08.0303:18:53UTC+00Palladium Rebounds on Iran Talks

Palladium futures climbed back above $1,290 per ounce, rebounding after late-July weakness as easing tensions in the Middle East boosted precious metals. The metal followed gains in gold, platinum, and silver after President Donald Trump announced that fresh negotiations with Iran would begin on Monday and disclosed that he had called off a planned large-scale military strike at the request of regional allies.

The news drove Brent crude down more than 7%, easing fears that higher energy prices would stoke inflation and compel central banks to keep interest rates elevated for longer. Palladium also found support from a weaker US dollar after Japanese authorities intervened to shore up the yen, making dollar-denominated metals more attractive to international buyers.

Market participants were additionally focused on upcoming US labor market indicators—including JOLTS job openings, the ADP employment report, weekly jobless claims, and nonfarm payrolls—for further insight into the Federal Reserve’s policy outlook after officials left interest rates unchanged last week.