Statements From Russia Push Palladium Prices Down

Mining.com reported that palladium prices dropped on Wednesday after Russian President Vladimir Putin said that Russia had withdrawn its forces from the Ukranian border, despite skepticism from NATO. June palladium traded down $20 at $798.30 per ounce on Wednesday afternoon, according to Mining.com.

As quoted in the publication:

The threat of sanctions against Russia over the Ukraine stand-off and a strike in South Africa – together the two countries control 80% of world palladium supply – have seen the palladium price jump by 10% this year. Russia produces more than half of world supply of the precious metal and has been stockpiling palladium since Soviet days.

Click here to read the full Mining.com article.