As sabers rattle along the Russia-Ukraine borders, Palladium futures climbed sharply this week, with prices reaching the highest since September ? USD 2,350 / CAD $2918 per ounce. Russia is the largest producer of Palladium and analysts fear that a hot war would exacerbate already chocked supplies.
ETFs tracking the price of the precious metal rose an average of 9% this week, including the Aberdeen Standard Physical Palladium Shares ETF (PALL) and WisdomTree Physical Palladium ETC (PHPD), which gained 13.3% and 8.5% respectively. Despite the dip on Friday, Palladium ETFs have camped in the green territory on a year-to-basis ? with average returns of over 12%. In contrast, flows over the past few days did not follow suit as Palladium ETFs witnessed a collective $23 million of outflows.
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