Gold prices jump by $17; palladium rises by over $100

Gold prices hiked during today, April 11, trading, amid the escalation in the Russian-Ukraine war, as the market is on the watch for the outcome of European Central Bank meeting to be held later this week.

EU Ministers of Foreign Affairs meet today, April 11th, to discuss a sixth package of sanctions on Moscow, AFP reported.

Gold futures for June delivery rose by around 0.85% or $16.70 reaching $1,962.30 per ounce at 12:45 p.m. Makkah Time. Spot price for the yellow metal rose by 0.55% recording $1958.23 per ounce.

Silver futures for May delivery rose by 1.56% reaching $25.21 for ounce.

Spot price for platinum delivery rose by 1.94% recording $998.16 per ounce, while spot price for palladium rose by 4.34% or $105.46 reaching $2,536.92 per ounce.

Gains for palladium and platinum came after London market blocked the trading of newly refined Russian platinum and palladium.

The main dollar measure, which measure the performance of US currency against a basket of six currencies, dropped by 0.13% at 99.669 points, after reaching the level of 100 points last week for the first time in two years.