AP News

Palladium price rises to highest since 2011

Palladium prices are higher as traders fear that continuing tensions with Russia could result in fewer exports of the metal.

The actively traded June contract for the metal jumped $17.65, or 2.3 percent, to settle at $789.30 an ounce Friday. That's the highest price since September 2011.

Traders fear that Western sanctions against Russia could obstruct exports of the metal. Russia is a major producer of palladium, which is used in products including catalytic converters for automobiles.

Other metal prices were mixed.

Gold for April delivery rose $5.50 to $1,336 an ounce.

Benchmark U.S. crude for May delivery rose 56 cents at settle at $99.46 a barrel.

Wheat and soybean futures fell, and corn futures were little changed.

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