Palladium over the $3K US barrier & climbing on uncertaintyPalladium just broke US$3K
Palladium: US $3054.00 up +$124.00 22:21 NY Time on pre US market trading.
Combined with this high pre- US market gain, Hopefully we will see a rise in value of exploration & PGM miners - especially since the future of Russia's palladium holdings may now be 'held up' for a while. TIME WILL TELL
Reuters Article:
Palladium tops $3,000/oz as supply fears grow, gold jumps over 1% By Brijesh Patel
Russia accounts for 40% of global production of the auto-catalyst metal, which was headed for a 25% rise this week, its best performance since late March 2020.
"There's growing consensus that Russia is not slowing down its military campaign and you're only going to see sanctions become a lot harder, and that's really going to disrupt businesses to get their hands on that supply of palladium," said Edward Moya, senior market analyst at OANDA.
"Flight bans, logistical issues and sanctions will keep palladium very bullish because this is happening during the time when demand is starting to pick up significantly."
https://www.reuters.com/markets/europe/gold-gains-after-russia-attacks-europes-largest-nuclear-plant-2022-03-04/