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


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https://www.msn.com/ar-ae/money/news/البلاديوم-يقفز-5percent-وسط-مخاوف-بشأن-الإمدادات-ومخاطر-التضخم-ترفع-أسعار-الذهب/ar-AAW5CJV?li=BBqrI8k

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(Reuters) - Palladium prices jumped 5 percent on Monday to its 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 inflationary tensions due to the war in Ukraine.

 

And 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.

 

"The suspension...certainly increases fears...that the palladium market will experience severe shortages in the future," said Commerzbank analyst Daniel Pressman.

 

And gold rose in immediate 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.

 

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

(Prepared by Muhammad Farag for the Arab Newsletter - Editing by Salma Najm)

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