Palladium rose to a seven-month high on Thursday in a rebound caused by supply concerns from top producer Russia, while gold rose on the expectation that the US Federal Reserve would not raise interest rates and safe-haven demand due to the Ukraine crisis.
And palladium spot prices rose 3.7%, to $ 2768.21 an ounce (an ounce) during trading, rising for the fourth session, reaching its highest level since mid-June 2021, earlier in the session.
And gold rose in immediate transactions 0.2%, to 1929.11 dollars an ounce. rose US gold futures contracts 0.5%, to 1931.60 dollars.
“The Fed is unlikely to raise interest rates by 0.5 basis points,” said Bernard Dahdah, analyst at Natixis, which gave an additional boost to gold prices on top of demand caused by the crisis in Ukraine.
Although gold is considered a safe investment during a state of political and economic uncertainty, higher US interest rates increase the opportunity cost of holding gold.
As for other metals, silver rose in spot transactions 0.3%, to $ 25.32 an ounce, while platinum rose 1.8%, to $ 1089.82.
