Gains of 0.7% for gold - At a seven-month high of palladium

The price of gold follows a course towards 2,000 euros against the background of the uncertainties brought by the war in Eastern Europe, while the palladium continues the upward rally of the last months.

In particular, the April contract for gold completed today’s trading, up 0.7% or $ 13.6, with a price of $ 1,935 an ounce.

At the same time, suffocating Western sanctions on Russia over its invasion of Ukraine are raising concerns about the supply of palladium, which is needed for car catalysts.

As Edward Meir of ED&F Man Capital Markets notes, “Palladium is the only commodity from Russia to which the United States has a fairly large exposure, so it is therefore in the spotlight regarding the impact of the war.”

In this climate, palladium’s contract reached $ 2,786 an ounce today, marking a seven-month high since mid-June 2021.

On the other metals, April silver moved around $ 25.23 an ounce and platinum rose about 1 percent to $ 1,078 an ounce.

Source: Capital

Sophia

I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.