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Why platinum and palladium prices are moving today: key market drivers (August 18, 2026)

Platinum and palladium are both sharply lower today as broader precious-metals weakness weighs on the platinum-group metals complex. Platinum is pulling back after trading near two-month highs, while palladium is seeing a deeper slide as traders weigh electric-vehicle demand growth, hybrid vehicle support, and supply risks from South Africa and Russia. Today’s pricing snapshot According to Trading Economics CFD benchmarks, platinum traded around $1,715.70/oz on August 18, 2026, down roughly 4.09% on the day. Platinum is still up about 6.96% over the past month and roughly 31.54% year over year, showing that the longer-term trend remains positive despite today’s sharp pullback. Palladium traded around $1,286/oz on August 18, 2026, down roughly 3.81% on the day. Palladium is still up about 1.38% over the past month and roughly 17.23% year over year, but its near-term momentum remains weaker than platinum’s. 5 key drivers behind today’s move 1) Precious metals are under

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