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Feb 02, 2026 - 06:31 AM
At 9:00 AM ET today, February 2, 2026, the palladium spot price is at $1,731.00 per ounce, down 7.01% from Friday's level of $1,861.50. The decline is attributed to a rebounding U.S. dollar and fears that new trade duties on key global suppliers, such as Canada and Russia, could disrupt typical industrial demand cycles. Despite this pullback, the market floor is being supported by the planned closure of major mines in late 2026, which is expected to tighten global supply significantly.
