Palladium Gains, Highest Price Since 2011

NEW YORK (AP) -

Palladium futures rose to the highest point since 2011, as traders fear that tensions might disrupt exports from the world’s top supplier of the metal.

Palladium peaked Wednesday at $844.65, the highest price for an actively traded contract since July 27, 2011. The September contract settled at $840.75 an ounce, up $9.20, or 1.1 percent.

Palladium futures have increased 16 percent this year, as traders worry about supply disruptions from Russia, which makes about 60 percent of the world’s supply, according to George Gero, vice president at RBC Global Futures. They’re also worried about a mining strike in South Africa, another major producer of the metal.

Other metals prices were mixed. June gold slipped $6.20, or 0.5 percent, to $1,259.30 an ounce. July silver edged down a penny to $19.06 an ounce.

Platinum for July delivery added 40 cents to $1,462.70 an ounce. July copper fell less than a penny to $3.174 a pound.

Crop prices were mixed. In trading of July contracts, wheat fell two cents, or 0.4 percent, to $6.39 a bushel; corn rose three cents, or 0.6 percent, to $4.73 a bushel; and soybeans rose nine cents, or 0.6 percent, to $14.98 a bushel.