Gold and Palladium Prices Renewed Records
OREANDA-NEWS. The cost of palladium renewed its historical maximum: its price in the spot market rose to 2030.28 US dollars per ounce. Spot gold increased by 2.3 % to 1,588.13 dollars per ounce, breaking the record set in April 2013.
According to Bloomberg agency, the price of precious metals has been rising over the past two weeks amid a conflict between the United States and Iran. According to analysts of UBS Group AG and ABN Amro Bank AV, the price of palladium can reach 1,600 dollars if tensions increase. The silver price in the spot market also rose to 18.5081 dollars per ounce, exceeding the record of September 2019.
Earlier, the price of Brent crude futures exceeded 70 dollars, WTI crude’s cost increased to 64 dollars. The growth also occurred against the backdrop of news of the death of the Iranian General Qasem Soleimani.