Palladium's Big Bull Market Has Begun -

This past month has been an incredibly exciting time to be a precious metals investor, with every major metal soaring and gold surpassing the critical $4,000 level today. 
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In this brief update, I want to highlight how palladium is now launching into a major bull market. 
This move fulfills the outlook I shared in my comprehensive <a href="https://www.moneymetals.com/news/2025/10/01/the-bullish-case-for-palladium-004373" rel="noopener noreferrer" data-saferedirecturl="https://www.google.com/url?q=https://www.moneymetals.com/news/2025/10/01/the-bullish-case-for-palladium-004373&amp;source=gmail&ust=1760025593943000&usg=AOvVaw2tYA1jrzDi2xX7F4Sk7Itj">bullish palladium report</a> last week. If you haven’t read that report yet, I recommend starting there, as it provides important background along with a wealth of fascinating charts and data showing how undervalued palladium is and how much upside potential it holds.
Palladium <a href="https://www.moneymetals.com/palladium-price" rel="noreferrer">is up about 8.5% today</a>, driven by the broad acceleration of the precious metals bull market. This surge pushed the metal above the key $1,200 to $1,400 resistance zone that I identified in my original report as the critical line in the sand, confirming whether palladium’s bull market had begun. 
Sure enough, it’s happening right now!
<img src="https://www.moneymetals.com/uploads/content/Chart-1-Palladium-Futures-Jesse-Colombo-Money-Metals-min.png" width="800" height="641" alt="" style="display: block; margin-left: auto; margin-right: auto;" />
Now I’ll explain the significance of palladium’s $1,200 to $1,400 resistance zone, which it has broken above today. That zone formed a price ceiling over the past two years, consistently capping gains in the metal. 
Today’s breakout means palladium has finally cleared that ceiling, and it now serves as a new floor of support. 
One caveat is that for this bullish thesis to remain intact, the breakout above this zone must hold in the days and weeks ahead.
I also want to draw your attention to the rounding bottom pattern that has developed over the past two years. This formation is often a precursor to major bullish moves. Today’s breakout confirms the successful completion of that pattern, signaling that the next major rally phase is underway.
<img src="https://www.moneymetals.com/uploads/content/Chart-2-Palladium-Futures-Rounding-Bottom-Pattern-breakout-Jesse-Colombo-Money-Metals-min.jpg" width="800" height="643" alt="" style="display: block; margin-left: auto; margin-right: auto;" />
I also want to share a fascinating chart that was <a href="https://x.com/graddhybpc/status/1973651241206161540" target="_blank" rel="noopener noreferrer" data-saferedirecturl="https://www.google.com/url?q=https://substack.com/redirect/1f612d12-a9e9-4145-95c0-d0ec22f399f7?j%3DeyJ1IjoiMWI5YWl3In0.o-RJcumCJm32z0-fPDbsH8ksWzk3G2-ENra_QtGncpM&amp;source=gmail&ust=1760025593943000&usg=AOvVaw3liwHAjTVUtG7df-MWgRU3">originally posted</a> by commodities analyst and investor Graddhy, which I’ve since replicated. 
It shows that palladium is forming an enormous 40-year parabolic base, indicating the strong likelihood of another 22x move from its cycle lows to roughly $17,000 per ounce! For reference, it is currently trading around $1,475.
This ambitious projection is based on the magnitude of the gains seen during the previous two major waves in the 1980s–1990s and again in the 2000s. Graddhy believes palladium could even outperform silver and calls it a true “get out of the rat race” opportunity, and I fully agree.
<img src="https://www.moneymetals.com/uploads/content/Chart-3-Palladium-Futures-Prices-Four-Decade-Parabolic-Base-Jesse-Colombo-Money-Metals-min.jpg" width="800" height="644" alt="" style="display: block; margin-left: auto; margin-right: auto;" />
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That exciting thesis also aligns with my strong belief, which I have shared many times over the past year, that we are on the verge of a new commodities supercycle or secular bull market similar to those of the 1970s and the 2000s. 
I expect this supercycle to significantly boost most commodities, from metals to grains to energy, much like a rising tide lifts all boats.
One of the key reasons I am anticipating a commodities supercycle is the extremely low commodities-to-Dow ratio, which shows that commodities remain deeply undervalued relative to stocks. 
This setup is typical of the period just before a commodities supercycle begins, when capital starts flowing out of the overvalued stock market and into undervalued commodities and natural resources.
<img src="https://www.moneymetals.com/uploads/content/Chart-4-Figure-1-Commodities-Dow-Ratio-Jesse-Colombo-Money-Metals-min.jpg" width="800" height="395" alt="" style="display: block; margin-left: auto; margin-right: auto;" />
Anyway, to summarize, I’m very excited to see palladium’s bull market begin. In my report, I originally suggested limiting palladium exposure to 5% or less of a large portfolio, built on a solid foundation of gold bullion with some silver for additional upside. 
However, the more I’ve studied and reflected on palladium, the more enthusiastic I’ve become about its potential as a position trade for investors with high risk tolerance, strong conviction, and the ability to navigate and stomach volatility.
If you found this report valuable, click <a href="https://thebubblebubble.substack.com/?tblci=GiBdY-MYH1-nD-WW6UXCXAtHBPIEdPpDc50r48qPeOICrCDKuWUow8jry8SFw-EvMLzYPQ" rel="noopener noreferrer" target="_blank">here</a> to subscribe to The Bubble Bubble Report for more content like it.

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