Precious Metals Slide as Palladium Plunges Over 12%

Prices of precious metals declined sharply on Monday, led by a significant sell-off in palladium, which dropped more than 12% after reaching an overnight high of $1,901.69 per ounce, its highest level since December 2022Market sentiment was influenced by geopolitical developments, as investors closely monitored Ukraine peace talks. U.S. President Donald Trump stated that there are “makings of a deal,” adding that the outcome of the negotiations could become clear “within a few weeks,” easing risk sentiment across markets.Among precious metals, palladium fell 12.64% to $1,680.25 per ounce, marking the steepest decline in the sector. Gold slipped by 1.13% to $4,443 per ounce, while silver dropped 2.61% to $76.06 per ounce. Platinum also declined, falling 2.55% to $2,283.07 per ounce.