Palladium Drops a Little as Ukraine, Separatists Sign Ceasefire Agreement

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The Ukrainian government and pro-Russian rebels have signed a truce deal to end almost five months of fighting in eastern Ukraine, quelling, for now, the threat to supplies of palladium from Russia.

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The two sides, meeting in Belarusian capital Minsk, agreed to stop firing at 15:00 GMT. However, the rebels said the truce had not changed their policy of advocating separation from Ukraine. Palladium declined a little on the LME as fears of further sanctions against world number two producer, Russia, went away as rumors of progress in the talks in Minsk and the potential ceasefire spread yesterday.

On Thursday, September 4, the day’s biggest mover was US palladium bar, which saw a 1.0 percent decline to $870.00 per ounce. The price of Chinese palladium bar declined 0.5 percent to CNY 193.00 ($31.42) per gram. The price of Japanese palladium bar remained essentially flat at JPY 3,023 ($28.82) per gram.

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At JPY 4,783 ($45.60) per gram, Japanese platinum bar fell 0.5 percent on Thursday. Chinese platinum bar ended the day at CNY 297.00 ($48.35) per gram, after the 0.3 percent drop yesterday. On the tail of a three-day flat streak, the price of US platinum bar rose by 0.2 percent, settling at $1,404 per ounce.

The price of Japanese gold bullion changed direction with a 0.9 percent drop. After two days of improving prices, the metal finished at JPY 4,276 ($40.77) per gram. After falling for two days, the price of Chinese gold bullion rose 0.3 percent to CNY 251.70 ($40.98) per gram. The price of US gold bullion increased 0.3 percent to $1,269 per ounce. Indian gold bullion saw its price rise 0.2 percent to INR 27,789 ($459.98) per 10 grams.

The price of Japanese silver declined 0.9 percent to JPY 647.00 ($6.17) per 10 grams, after two days of improvement. The price of Chinese silver is back up, rising by 0.4 percent on Thursday to close at CNY 4,190 ($682.16) per kilogram. US silver gained 0.1 percent to finish at $19.16 per ounce. Indian silver prices saw a 0.1 percent decline to INR 42,309 ($700.32) per kilogram.

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