Commodities Corner: Palladium settles at a record above $1,100 an ounce

Palladium futures rallied Monday, with concerns surrounding supplies from Russia, following U.S. President Donald Trump’s plan to pull out of a nuclear treaty with Moscow, setting prices up for their highest settlement since January, when prices hit a record.

Palladium for December delivery PAZ8, +3.47% climbed by $37.10, or 3.5%, to trade at $1,107 an ounce on Comex after tapping an intraday high of $1,109.60. Prices for the most-active contracts haven’t settled above $1,100 since Jan. 24. Based on FactSet records dating back to November 1984, they hit a record settlement of $1,109.70 on Jan. 17 of this year.

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