[heading]Is Palladium Going To $1,200?[/heading]
Palladium has risen to its highest level since 2011 due in part to escalating tensions in Ukraine, in particular that the supply of palladium from Russia, the world’s biggest producer, will be restricted. In 1999-2000 palladium ran to $1,200. Could it be heading to its old high?
Politicians and banks are suggesting increased sanctions against Russia’s banking and finance system, worsening the situation and increasing the likelihood that supply will be cut off.
Palladium has increased 13 percent this year as the threat of disruption to Russian exports added to supply concerns amid a miners’ strike in South Africa, the second-biggest producer. The introduction last month of two-exchange traded products backed by the metal tried to temper the volatility.