Palladium Price Rises to Highest Since 2011

NEW YORK (AP) -

Palladium prices rose sharply Friday, as traders feared that continuing tensions with Russia could result in fewer exports of the metal.

The actively traded June contract for the metal jumped $17.65, or 2.3 percent, to settle at $789.30 an ounce. That’s the highest price since September 2011.

Traders fear that Western sanctions against Russia could obstruct exports of the metal. Russia is a major producer of palladium, which is used in products including catalytic converters for automobiles.

Other metal prices were mixed.

Gold for April delivery rose $5.50 to $1,336 an ounce. May silver fell 12 cents to $20.31 an ounce, May copper rose 2 cents to $2.95 a pound and April platinum rose $1.20 to $1,436 an ounce.

Agricultural commodities were mixed.

Wheat for May delivery fell 10 cents to $6.93 a bushel, and soybeans for delivery in the same month fell 25 cents to $14.09 a bushel. May corn edged up half a cent to $4.79 a bushel.