Production disruptions at Russia’s Norilsk Nickel have impacted the platinum and palladium markets, aiding in positive price action for both.
Supply challenges continue to drive the palladium price higher, and the metal registered a fresh all-time high of US$3,052 per ounce this week.
As palladium moved upward, volatility rocked gold, sending it from US$1,788 per ounce on Wednesday (April 28) to US$1,755 less than 24 hours later.
The yellow metal had been on course for its first monthly gain in four weeks, but positive economic data out of the US pushed 10 year Treasury yields higher, a headwind for gold.
After dipping as low as US$1,724.80 on March 1, the safe haven asset was approaching the US$1,800 mark this week before retreating.