Palladium Hits Another 13 Year High on Fears of Russia Sanctions

The Wall Street Journal reported today that palladium futures climbed to a 13 year high on fears that further sanctions against Russia could hurt supplies for the white metal.

As quoted in the publication:

Palladium for September delivery, the most active contract, reached $899.90 a troy ounce, the highest level since February 2001, before pulling back slightly. The contract recently traded up $6.15, or 0.7%, at $885.95 an ounce on the New York Mercantile Exchange.

George Gero, a senior vice president with RBC Capital Markets Global Futures, told the publication:

There could be retaliation that could hurt supplies of platinum and palladium. What if Russia decides not to export?

Click here to read the full Wall Street Journal article.