Platinum and palladium are both lower on April 29, with platinum taking the bigger hit in today’s market. Trading Economics shows platinum at $1,900/oz, down 3.00% on the day, while palladium is at $1,461/oz, down 0.61%. Even with today’s weakness, both metals are still well above year-ago levels, which shows how strong the broader 2026 run has been.
Today’s pricing snapshot
Over the past month, platinum is down 0.29% but still up 97.48% year over year, according to Trading Economics. Palladium is up 1.99% over the past month and 56.84% from a year ago. That keeps platinum as the stronger long-term performer, while palladium has held up a little better over the past month.
5 key drivers behind today’s move
1) Platinum still has a real supply-deficit story underneath it
The biggest support for platinum remains the physical market balance. The platinum market has been expected to stay in deficit in 2026, and that tight backdrop is one of the main reasons platinum is still trading at historically elevated levels even after today’s drop. Today’s decline does not erase that bigger supply picture.
2) Today’s platinum selloff looks like a pullback inside a still-elevated market
Trading Economics says platinum previously reached an all-time high of $2,923.70/oz in January 2026. With the metal now at $1,900/oz, today’s move looks more like a renewed correction after a huge run than a collapse in the overall market story. That is an inference from the current price level relative to the January peak.
3) Palladium remains the more headline-driven metal
Palladium is also lower today, but the drop is smaller than platinum’s. Its market remains more reactive to supply-risk headlines and shifts in industrial sentiment, which helps explain why it often trades more unevenly than platinum. The latest public data still shows palladium well above year-ago levels, but with a weaker long-term trend than platinum.
4) Platinum still has the stronger longer-term trend
The latest Trading Economics data shows platinum’s 97.48% year-over-year gain is far stronger than palladium’s 56.84%. That gap suggests the market still sees platinum as the cleaner structural story, even though it is under heavier pressure today.
5) Both metals are under pressure today, but for different reasons
Platinum’s bigger daily drop suggests more profit-taking and correction pressure after its much larger 2026 run. Palladium’s smaller decline suggests it is soft too, but not breaking down as sharply in today’s session. That comparison is an inference from the latest daily market values.
What to watch next
For platinum, the key question is whether buyers step back in after today’s sharp decline because the longer-term supply backdrop is still tight. For palladium, traders will keep watching whether its softer daily move turns into stability or whether the more volatile, headline-driven nature of that market pulls it lower too. Trading Economics’ broader commodities table was updated on April 29, 2026, which supports using these as the latest public benchmark readings today.
Bottom line
On April 29, 2026, both platinum and palladium are down, but platinum is taking the bigger hit. Platinum still has the cleaner long-term setup because of its much stronger yearly performance and tighter underlying market, while palladium remains the more reactive and headline-sensitive metal
