Palladium Jumps, is Russia’s Secret Economic Weapon

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Gold Prices Going Up

Another escalation of the border conflict between Russia and Ukraine helped push palladium bar prices up across the board today with Chinese palladium the biggest gainer.

Russia is the world’s largest producer of the metal, the key ingredient for catalytic converters in cars, capacitors in electronics, dental crowns and much more. As the West threatens tougher sanctions against Russia for the annexation of Crimea, Russia may try to do equal damage with trade restrictions of its own. For an in-depth look at the situation see Quartz’s analysis.

At CNY 186.00 ($29.84) per gram, Chinese palladium bar moved up 3.9 percent on Monday, April 14, the day’s biggest change. US palladium bar prices inched up 2.8 percent to $810.00 per ounce. Japanese palladium bar saw its price rise 1.9 percent to JPY 2,635 ($25.97) per gram.

* Get the complete prices every day on the MetalMiner IndX℠

Japanese platinum bar gained 1.3 percent to finish at JPY 4,777 ($47.08) per gram. After a 0.9 percent increase, US platinum bar finished the day at $1,465 per ounce. At CNY 311.00 ($49.90), the price of Chinese platinum bar finished the market day up 0.6 percent per gram.

The price of US gold bullion increased 0.8 percent to $1,329 per ounce. Indian gold bullion finished the day up 0.8 percent to INR 28,781 ($476.90) per 10 grams. Chinese gold bullion gained 0.7 percent to finish at CNY 264.95 ($42.51) per gram. At JPY 4,330 ($42.67), the price of Japanese gold bullion finished the market day up 0.6 percent per gram.

Landing at INR 43,510 ($720.96) per kilogram yesterday, Indian silver prices fell 3.1 percent. Chinese silver saw its price rise 0.2 percent to CNY 4,155 ($666.67) per kilogram. The price of Japanese silver rose 0.2 percent to JPY 652.00 ($6.43) per 10 grams after a two-day drop. The price of US silver declined 0.1 percent to $20.00 per ounce.

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