June 26, 2022

Dubai Week

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Palladium is at $ 3,000 an ounce, while gold is up 1.6 percent

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On Friday, the price of palladium soared above $ 3000 an ounce, for the first time since May 2021, amid growing fears of a shortage of goods from Russia, the metal’s major exporter, while Ukraine’s crisis supported support for gold. As a safe haven.

Palladium also rose 8.4 percent to $ 3,008.74 an ounce during the session, up 7.6 percent from 1930 GMT to $ 2985.54 an ounce.

Russia produces 40 percent of global production of metal used in the automobile industry, which is on track to reach a 25 percent increase this week, its best level since the end of March 2020.

Gold rose 1.6 percent to $ 1965.97 an ounce on spot trading, bringing its gains to 4 percent this week.

US gold futures rose 1.6 percent to $ 196.6 an ounce.

Silver was up two percentage points at $ 25.67 an ounce in spot trading and is continuing to rise for the fifth week in a row.

Platinum was up 3.4 percent at $ 1,117.06 an ounce.

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