The Phaserl


Palladium Jumps To 11 Month High of $770/oz On Deficit Concerns

from Gold Core:

Gold traded below its highest level in more than four months as tension between Ukraine and Russia eased leading to traders taking profits on gold.

Palladium climbed for a fifth day and jumped to an 11 month high. Palladium for June delivery rose  0.7% to $769/oz, the highest for the most active contract since August 15. Palladium has gained 5.5% during the last five days of the crisis and is up 7.4% year to date.

According to Bloomberg Industries analysts Kenneth Hoffman & Oliver Nugent, “any sanctions imposed by the EU and the U.S. on the export of Russian palladium group metals would create a serious supply shortage that may be difficult for industries to replace.”

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