Palladium Trades Below $1,490

Palladium futures dropped below $1,490 per ounce, extending their decline as a stronger dollar and rising Treasury yields continued to weigh on precious metals. The broader sell-off across platinum-group metals came as the dollar opened the week with solid momentum, supported by rising geopolitical uncertainty in the Middle East.

Hopes for a near-term resolution have weakened after Donald Trump halted a planned diplomatic initiative over the weekend, signaling that negotiations would depend on Iran taking the first step. At the same time, oil prices surged, intensifying inflation concerns. Brent crude rose roughly 2% to trade above $107 per barrel, a move that is strengthening expectations that interest rates could remain elevated for longer. Despite the recent pullback, palladium has maintained a strong upward trajectory, gaining 4.08% over the past month and surging 58.28% year-on-year.