Palladium Prices Leap Following US Tariff Announcement

In a significant market movement, palladium prices experienced a sharp increase of 2.7% this Friday. This surge comes in the wake of the United States' provisional approval of a hefty 93.5% tariff on Chinese graphite exports, a critical component in battery production. The US government alleges that these exports are unfairly subsidized by Beijing.

Market Reactions to the Tariff News

At exactly 4:09 am ET, palladium was trading at $1,293.34 per ounce, marking a 2.69% rise. Not far behind, gold saw a modest increase of 0.28%, reaching $3,348.72 per ounce. Silver and platinum also enjoyed gains, with silver up by 0.39% to $38.30 per ounce and platinum climbing 0.85% to $1,472.63 per ounce just a minute later.