Open Demo Account
Home / Market Update / Commodities / Palladium jumps 5% on supply concerns, inflation risks lift gold prices

Palladium jumps 5% on supply concerns, inflation risks lift gold prices

Adel 11 April, 2022 4:16 pm Commodities, Market Update

On Monday, palladium prices jumped 5 percent to their highest level in more than two weeks, driven by supply concerns after trading of the metal was suspended from Russia, while gold prices increased due to inflation tension caused by the war in Ukraine.

Palladium rose 4.5 percent to $ 2534.40 an ounce by 1007 GMT, after earlier reaching its highest level since March 24 at $ 2550.58. Platinum also rose 1.7 percent to $991.14.

Gold rose in spot transactions 0.6 percent to 1958.20 dollars an ounce (an ounce), after hitting the highest level in more than two weeks at 1958.96 dollars. US gold futures rose 0.8 percent to $1,61.70.

The dollar index fell 0.2 percent, making bullion less expensive for holders of other currencies.

And the price of silver in spot transactions rose 1.2 percent to $ 25.03 an ounce.

Tags

Check Also

The Euro’s Moment? Weak US Data and ECB Action Set the Stage

The euro strengthened against the US dollar, with the EUR/USD pair climbing above 1.14. This …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends