As Palladium Flows Out of Russia, The Price Goes Down

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Palladium prices are slumping as a steadier political landscape in eastern Europe allays concerns about supplies and a stronger US dollar curbs interest from foreign investors.

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Palladium has continued to flow out of Russia, and a cease-fire between Ukraine government forces and pro-Russia rebels could be the first step toward a more permanent peace.

“The fact that there’s been an easing of tensions has certainly added to the pressure on palladium,” Mike McGlone, director of research with ETF Securities, a provider of exchange-traded funds backed by metals including palladium., told the Wall Street Journal.

The price of Japanese palladium bar closed Monday, September 15 at JPY 2,947 ($27.46) per gram, halting its three-day flat run with a 2.5 percent drift. Following a two-day drop, the price of US palladium bar increased by 0.6 percent to $833.00 per ounce. The price of Chinese palladium bar is back up, rising by 0.5 percent on Monday to close at CNY 184.00 ($30.00) per gram.

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Japanese platinum bar prices saw a 1.3 percent decline to JPY 4,693 ($43.73) per gram. The price of US platinum bar declined 0.5 percent to $1,360 per ounce. Following two days of downward movement, the price of Chinese platinum bar held steady at CNY 287.00 ($46.79) per gram.

The price of Japanese gold bullion fell 0.6 percent to JPY 4,259 ($39.68) per gram. US gold bullion closed 0.6 percent lower at $1,233 per ounce. Indian gold bullion held its value on Monday at INR 27,126 ($445.92) per 10 grams. After dropping for two days, the price of Chinese gold bullion flattened at CNY 244.22 ($39.82).

Indian silver prices inched up 1.7 percent to INR 41,400 ($680.57) per kilogram. Japanese silver finished the day down 1.4 percent to JPY 639.00 ($5.95) per 10 grams. US silver prices saw a 0.3 percent decline to $18.61 per ounce. At CNY 4,120 ($671.70), the price of Chinese silver finished the market day up 0.2 percent per kilogram.

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