FUNDAMENTALS
* Palladium gained 5.7% to $3,172.19 an ounce at 01:58 GMT, after hitting an all-time high of $3,172.22 earlier in the session.
* Russia accounts for 40% of the world’s production of this metal, used by car manufacturers in catalytic converters to reduce emissions.
* Fighting prevented around 200,000 people from evacuating the besieged Ukrainian city of Mariupol for the second day in a row on Sunday, as Russian President Vladimir Putin vowed to press ahead with his invasion unless Kiev surrenders.
* Netflix, a global streaming entertainment service, major accounting firms KPMG and PwC and financial services firm American Express cut ties with Russia on Sunday, as the conflict between that country and Ukraine escalates.
* Ukraine will ask the United Nations’ highest court on Monday for an emergency ruling demanding that Russia end its invasion, arguing that Moscow’s justification for the attack is based on a misinterpretation of the law on the genocide.
* Spot gold rose 1.5% to $1,998.37 an ounce, after hitting a year-and-a-half high of $2,000.69. US gold futures rose 1.7% to $2,000.20.
* Holdings of SPDR Gold Trust, the largest exchange-traded fund backed by gold, rose 0.4% to 1,054.3 tonnes on Friday – their highest level since mid-March 2021. [GOL/ETF]
* Rising domestic gold prices discouraged buyers in major Asian hubs last week, as others waited on the sidelines watching the Russia-Ukraine dispute closely, while COVID restrictions -19 from Hong Kong have further reduced appetite. [GOL/AS]
* Spot silver gained 1.7% to $26.09 an ounce, while platinum jumped 2.3% to $1,147.19.