According to Forbes, Russia is the world's largest producer of Palladium, accounting for more than 40% of the world's supply. It is also the third-biggest producer of gold, behind 310 tonnes. The sanctions on Russia could interrupt the delivery and production of Palladium, used primarily in catalytic converters and gold.
Reuters reported Palladium prices jumping to seven-month highs of $2,722.79 /oz (spot price as of press time). At the same time, gold hit its highest since January of last year at $1932 /oz. (spot price as of press time). With the tension escalating, Palladium and Gold could break their all-time high. It's time to protect yourself and your money with precious metals. Click the link in my bio to get started now.
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