Palladium prices rise for the third day in a row

Russia’s ongoing military aggression against Ukraine continues to have an impact on the palladium market, whose prices have been rising for the past three days. The market is growing fears of an even greater reduction in supply in the context of the sanctions imposed on the Russian Federation. Supply is lagging far behind demand for palladium, which is rising in price due to its growing demand in the automotive sector. Wednesday’s trading data also point to a decline in gold prices against the backdrop of a significantly stronger dollar and rising yields on US government bonds. Recently, palladium has risen in price to a maximum since July, and on March 2, prices for it continued to grow, having increased by 0.13% – up to 2583.68 dollars per ounce. Quantitative Commodity Research expects that palladium will continue to rise in price, prices for it have not yet reached their peak level. Gold is trading at $1,928.81 per troy ounce. Its value decreased by 0.68%.

Source: xCritical.com