Tensions in the Ukraine have turned investors' attention towards precious metals

Tensions in the Ukraine have turned investors' attention towards precious metals. In times of political conflict, especially military, precious metals generally do well. But some people might have been surprised just how the tensions have affected precious metals.

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Palladium has risen to it's highest level since 2011. Escalating tensions in Ukraine are the reason, in particular the supply of palladium from Russia, the world's biggest producer, could be restricted. This is especially true if US politicians and "experts" continue mouthing off about how the US government should go after Russia's banking and financial system. As if the US government is not in a precarious situation enough In 1999-2000 palladium ran to $1,090. Could it be heading to it's old high? There are lots of reason to believe soand also to believe we are at the beginning of the next price run in the precious metals, including gold and silver. But for now palladium is the big story.

Palladium has already increased 13 percent this year. There is crisis in Ukraine, as well as in South Africa, the world's second largest producer of palladium.

I have never seen such perfect conditions for the continued rise in the price of palladium. Demand has never been higher and the supply is volatile.

UKRAINE

The situation in Ukraine has caused a mess geopolitically. In the country itself, capital controls have already been instituted, which we have covered at The Dollar Vigilante continuously.

7 percent of deposits we're withdrawn from Ukrainian banks in the week after the fall of Kiev. The Ukraine Central Bank's early capital controls:

  • Sets limits on foreign currency purchases.
  • Limits purchasees to 15,000 Hryvnia per person per day ($1,300).
  • Ukraine central bank limit purchases to 150,000 Hryvnia per person per month ($13,000).

The European Union and the US have been quick to aid Ukraine through the International Monetary Fund. The US has also threatened sanctions, and some US banks have even moved in that direction, like JP Morgan.

But the Kremlin has taken a similar stance in response to (mainly) US antagonisms. A Kremlin economist, Sergei Glazyev, told RIA Novosti that this would lead to a crash of the US financial system.

"We would find a way not just to reduce our dependency on the United States to zero but to emerge from those sanctions with great benefits for ourselves," said the Kremlin economic aide.

"We have wonderful economic and trade relations with our Southern and Eastern partners," he said. "We will find a way not just to eliminate our dependence on the US but also profit from these sanctions."

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Posted in Business Service Post Date 01/23/2016


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