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Precious Metals

“Palladium steadies from record high on Ukraine crisis”

Palladium briefly reached a record high on Monday amid fears of supply disruptions in the wake of an escalating Russia-Ukraine crisis.

Spot gold rose 1.5% to $1,997.91and briefly scaled the $2,000 mark, an all-time high since Aug. 19, 2020. U.S. gold futures rose about 1.77% to $2,001.40.

“Gold will likely find some heavy traffic around the $2,000 level initially, but once it is cleared, assuming no change in the Ukraine situation, it will quickly move to the $2,100 region and on to new all-time highs,” said OANDA senior analyst Jeffrey Halley…”

https://www.cnbc.com/2022/03/07/gold-markets-palladium-russia-ukraine-crisis.html

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