Palladium Remains Above $907 on Supply Fears

Palladium rose for a fourth straight session on Monday to a 13-1/2-year high on fears that supply from top producer Russia could be hit due to the Ukraine crisis, while gold was little changed as the dollar nudged higher.  Spot palladium had climbed 0.8 percent to $906.50 an ounce by 0623 GMT, after earlier hitting a fresh 13-1/2-year high of $907.50.

Investors fear that an escalation of tensions over Ukraine could result in an extension of sanctions against Russia to include palladium producers. Russia accounted for more than 40 percent of global palladium supply last year.

Palladium has gained nearly 27 percent this year, also boosted by strong auto sales and mine strikes in No. 2 producer South Africa that curbed supplies.


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