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Yahoo! Finance: SI=F News
Palladium rose 4.4% to a near six-month peak on Wednesday, driven by fears of a hit to supply from top producer Russia, while gold firmed above the key $1,900 level as Ukraine declared a state of emergency. Russia is the world’s third largest producer of gold, while the country’s Nornickel is also a major producer of palladium and platinum, which are both used in catalytic converters to clean car exhaust fumes. Russia produced 2.6 million troy ounces of palladium last year, or 40% of global mine production, and 641,000 ounces of platinum, or about 10% of total mine production.
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