Prices wade in choppy trade amid Ukraine crisis
New York (May 18) Palladium and platinum also rallied to key highs on intensifying worries about the impact of industrial action in top producer South Africa. During the week platinum soared nearly $35 to $1465, while palladium rose $12 to $816.
“It has been choppy trading activity for commodity markets this week,” Sucden analyst Myrto Sokou told AFP.
Some markets were hit by pressure from the weaker euro, which makes dollar-priced commodities more expensive for buyers in Europe.
Commodity gains were capped after it emerged that the 18-nation eurozone economy grew by just 0.2 percent in the first quarter.
This past week gold edged up $2 to $1294, while silver inched up 13 cents to $19.38.