Palladium, platinum prices jump on supply concerns

AP News
Posted: Jan 25, 2013 4:05 PM

Prices for palladium and platinum are rising because of concerns about supply.

Palladium for March delivery rose $14.30, or 2 percent, to $741 per ounce on Friday. April platinum is up $11.10 to $1,694.90 per ounce.

Traders were reacting to a report that Russia's stockpiles of those metals are expected to be smaller this year. And prices for both metals were also helped by higher stock prices. Palladium and platinum can trade as industrial metals, which generally means they rise when traders feel better about the economy.

Other key metals, including gold, silver and copper, were down. Energy and agricultural commodities were mixed.