Gold climbed to its highest in one-and-half years on Monday and palladium hit an all-time high on safe-haven asset appeal, while nickel soared over 20 percent on fears of supply disruptions tied to sanctions on Russia and continued fighting in Ukraine.
Gold prices rose above $2,000 per ounce, palladium hit a record, LME 3-month nickel posted its largest ever one-day gain, and oil and wheat jumped to 14-year highs as Russia’s escalating invasion of Ukraine continued to roil global commodities.