{"id":1361467,"date":"2022-03-07T07:20:45","date_gmt":"2022-03-07T12:20:45","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1361467"},"modified":"2022-03-07T07:23:34","modified_gmt":"2022-03-07T12:23:34","slug":"gold-prices-hit-2000-oz-palladium-hits-all-time-high","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gold-prices-hit-2000-oz-palladium-hits-all-time-high\/","title":{"rendered":"Gold Prices Hit $2,000\/oz, Palladium Hits All Time High"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fgold-prices-hit-2000-oz-palladium-hits-all-time-high%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1361467&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/03\/reuters-default.png\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<div class=\"article-body__context_widget__Q3xE9 article-body__element__OOj6H\">\n<div class=\"context-widget__content__1cb4b\">\n<ul class=\"summary__summary__3oBN8\">\n<li class=\"text__text__1FZLe text__dark-grey__3Ml43 text__medium__1kbOh text__body__yKS5U body__base__22dCE body__body_alt__2kEQu summary__point__eci4G\">Gold rises to highest since August 2020<\/li>\n<li class=\"text__text__1FZLe text__dark-grey__3Ml43 text__medium__1kbOh text__body__yKS5U body__base__22dCE body__body_alt__2kEQu summary__point__eci4G\">Palladium set for best day in nearly two years<\/li>\n<li class=\"text__text__1FZLe text__dark-grey__3Ml43 text__medium__1kbOh text__body__yKS5U body__base__22dCE body__body_alt__2kEQu summary__point__eci4G\">$2,000 little more than speed bump for gold &#8211; analyst<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p data-testid=\"paragraph-0\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__OOj6H\">March 7 (Reuters) &#8211; Palladium shot up to an all-time high as Russia&#8217;s invasion of Ukraine and resultant sanctions stoked fear of scarcity, while gold tested the psychological $2,000 mark in response to demand for safe-haven assets.<\/p>\n<p data-testid=\"paragraph-1\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__OOj6H\">Spot palladium soared 11.8% to $3,357.68 per ounce, by 1058 GMT, on course for its biggest daily percentage rise since March 2020, after hitting an all-time high of $3,440.76 earlier.<\/p>\n<p data-testid=\"paragraph-2\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__OOj6H\">&#8220;Palladium is reflecting deep scarcity, and anticipation of further scarcity as things unfold in Ukraine and Russia,&#8221; independent analyst Ross Norman said, adding he expected the price rally to continue. <a href=\"https:\/\/www.reuters.com\/business\/energy\/oil-spikes-2008-highs-us-europe-mull-russian-oil-import-ban-iran-delay-2022-03-07\/\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__medium__1kbOh text__large__nEccO link__underline_default__2prE_\"> read more <\/a><\/p>\n<div class=\"registration-prompt__container__ia3bM registration-prompt__inline__1zdn0 article-body__element__OOj6H article-body__inline-registration-prompt__39Ed8\">\n<div class=\"registration-prompt__text-content__1_ijH\">\n<h5 class=\"text__text__1FZLe text__white__3r45t text__medium__1kbOh text__heading_5__2krbj heading__base__2T28j heading__heading_5__2A2g- registration-prompt__heading__1zL6F\">Register now for FREE unlimited access to Reuters.com<\/h5>\n<p><button class=\"button__button__2Ecqi button__secondary__18moI button__round__1nYLA text-button__container__3q3zX registration-prompt__button-text__2ySbK\" type=\"button\"><\/p>\n<p><span class=\"text__text__1FZLe text__inherit-color__3208F text__bold__2-8Kc text__default__UPMUu text-button__medium__113uZ\">Register<\/span><\/p>\n<p><\/button><\/div>\n<\/div>\n<p data-testid=\"paragraph-3\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__OOj6H\">Western nations have piled sanctions on Moscow, driving prices higher across a range of commodities. Russia accounts for 40% of global production of palladium, used by automakers in catalytic converters to curb emissions. <a href=\"https:\/\/www.reuters.com\/markets\/europe\/commodities-gold-above-2000-safe-haven-appeal-nickel-up-over-20-2022-03-07\/\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__medium__1kbOh text__large__nEccO link__underline_default__2prE_\"> read more <\/a><\/p>\n<p data-testid=\"paragraph-4\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__OOj6H\">&#8220;Possible supply outages from Russia are still being priced in on the palladium market,&#8221; Commerzbank analysts said in a note. &#8220;As supply outages could not be offset elsewhere, the market risks sliding into a sizeable supply deficit.&#8221;<\/p>\n<p data-testid=\"paragraph-5\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__OOj6H\">Spot gold gained 1.6% to $2,000.40 per ounce, after scaling its highest since Aug. 19, 2020, at $2,002.31 earlier in the session. U.S. gold futures rose 2% to $2,004.90.<\/p>\n<p data-testid=\"paragraph-6\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__OOj6H\">The surge in the gold price reflects increased risk aversion among market participants, and given the crisis in Ukraine, investors are likely to continue to seek refuge in gold, Commerzbank said.<\/p>\n<p data-testid=\"paragraph-7\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__OOj6H\">Gold is considered one of the oldest safe-haven assets. It rose despite strong inflows into the U.S. dollar, which makes gold more expensive for holders of other currency. The dollar is also considered a reliable store of value during times of uncertainty.<\/p>\n<p data-testid=\"paragraph-8\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__OOj6H\">&#8220;In the current environment, I would expect $2,000 to represent little more than a speed bump,&#8221; Norman said.<\/p>\n<p data-testid=\"paragraph-9\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__OOj6H\">Spot silver advanced 1.3% to $25.99 per ounce, while platinum was up 3% to $1,154.44.<\/p>\n<div class=\"registration-prompt__container__ia3bM registration-prompt__inline__1zdn0 article-body__element__OOj6H\">\n<div class=\"registration-prompt__text-content__1_ijH\">\n<h5 class=\"text__text__1FZLe text__white__3r45t text__medium__1kbOh text__heading_5__2krbj heading__base__2T28j heading__heading_5__2A2g- registration-prompt__heading__1zL6F\">Register now for FREE unlimited access to Reuters.com<\/h5>\n<p><button class=\"button__button__2Ecqi button__secondary__18moI button__round__1nYLA text-button__container__3q3zX registration-prompt__button-text__2ySbK\" type=\"button\"><\/p>\n<p><span class=\"text__text__1FZLe text__inherit-color__3208F text__bold__2-8Kc text__default__UPMUu text-button__medium__113uZ\">Register<\/span><\/p>\n<p><\/button><\/div>\n<\/div>\n<p><span class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__default__UPMUu sign-off__text__328ww\">Reporting by Bharat Govind Gautam in Bengaluru; editing by Barbara Lewis<\/span><\/p>\n<p class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__OOj6H\">Our Standards: <a href=\"https:\/\/www.thomsonreuters.com\/en\/about-us\/trust-principles.html\" target=\"_blank\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__medium__1kbOh text__large__nEccO link__underline_default__2prE_\" rel=\"noopener\">The Thomson Reuters Trust Principles.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold rises to highest since August 2020Palladium set for best day in nearly two years$2,000 little more than speed bump for gold &#8211; analyst<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1361467","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1361467","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1361467"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1361467\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1361467"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1361467"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1361467"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}