Palladium breaks $900

The palladium price made a new 13 year high today and reached $909/oz, its highest since February 2001. Markets fear that the global supply of palladium could be impacted by the threat of further sanctions against Russia. Russia is the world’s largest palladium producer accounting for over 40% of global production.

Investment demand for palladium has also been strong recently and as acted as a competing demand to industrial users.