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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.

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