abrdn Physical Palladium Shares ETF

PALL

Market cap $681M

Investors seeking momentum may have Aberdeen Standard Physical Palladium Shares ETF PALL on radar now. The fund recently hit a new 52-week high.

Amid a backdrop of ongoing geopolitical uncertainty, a weakening U.S. dollar, ongoing market uncertainty, and creeping inflation, precious metals are having a banner year. Gold has set 11 all-time highs and has posted a year-to-date (YTD) gain of more than 45%.

Platinum (PLTM, PPLT), Palladium (PALL), Lithium (LITP), and Silver (SLVR) ETFs all jumped 10%+ last week despite weak Wall Street.

The abrdn Physical Palladium Shares ETF offers retail investors direct exposure to spot palladium prices with secure physical backing and strong liquidity. PALL stands out as a portfolio diversifier against equities, but its high volatility makes it less suitable for low-risk investors. Supply constraints, improved auto production forecasts, and potentially stricter emissions standards work as supportive tailwinds for PALL's future performance.

Platinum and palladium broke out technically in Q2 2025, forming bullish key reversals, and now show strong upside potential after years of underperformance. Both metals are rare, with supply concentrated in Russia and South Africa, and their low market liquidity could amplify future price moves. Gold and silver's ongoing bull trends support higher prices for platinum group metals, which remain undervalued relative to their all-time highs.

Gold has undeniably been the standout asset class of the year, stealing the spotlight after a string of record highs. Bullion prices have surged 30% YTD to outpace equities and bonds amid a combination of central bank hoarding and a general flight to safety.

The abrdn Physical Palladium Shares ETF provides access to palladium. The ETF transforms an illiquid asset class into a liquid investment with an expense ratio of 0.60%. We think palladium volatility is set to spike amid various supply-side and demand-base variables being underestimated. South Africa is a major player in palladium exports. South Africa-U.S. trade relations have severed for numerous years without the market taking much note.

Palladium's price has rebounded strongly since April 2025, with a 27.4% rally, and remains in a bullish short-term trend above $1,000. Low liquidity in palladium futures could amplify upside moves, making it an attractive risk-reward play for 2025, especially if prices break $1,255. Palladium lags gold, silver, and platinum, but rising platinum prices and industrial demand could ignite a catch-up rally in this thinly traded metal.

The metals market is on fire – with precious metals like silver and platinum joining the party gold has enjoyed for a while. Investors are also warming to energy metal plays like uranium.

Palladium's price surged due to a structural deficit driven by supply constraints, increased automotive demand, and stricter emission standards but has recently declined due to EV adoption and speculative positioning. Despite a significant market deficit, palladium prices have fallen, highlighting the role of inventories and financial speculation in metal markets. Short-term palladium prices may rebound due to tight market conditions and significant net short speculative positions, but long-term prospects are bearish due to increasing recycling supply and declining automotive demand.