Palladium, Gas And Wheat Surge On Russian Supply Fears
GoldCore
GoldSeek.com
Monday, 14 April 2014
Relations between Russia and the West are at their worst since the Cold War. Some Western governments believe Russia is preparing to take control of eastern Ukraine.
The United States is prepared to step up sanctions against Moscow if pro-Russian military actions in eastern Ukraine continue, a senior U.S. envoy said, with the sanctions set to target mining, banking and energy, among other sectors.
There is the real risk of a civil war where the old Cold War powers support rival factions by proxy. Another significant risk is of economic and trade war morphing into financial and currency war.
Palladium has outperformed other precious metals this year, gaining about 14% supported by fears over Russian supplies, and growing demand in the auto sector.
Gold and the precious metals are likely to see more gains as tensions over Ukraine are set to continue and look like they could deteriorate further.
Officials from the U.S. and Russia blamed each other at yesterday’s UN Security Council meeting for violence that left at least one Ukrainian serviceman dead.
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