Gold prices increased on Thursday, driven by expectations of a U.S. Federal Reserve interest rate cut next week. Meanwhile, supply concerns from Russia, the world’s largest palladium producer, pushed palladium above the key $1,000 per ounce level. Spot gold was up 0.1% at $2,513.78 per ounce by 1107 GMT, supported by the 21-day moving average of $2,505. The marginal rise...
Palladium news
Gold Hits Record High Amid Fed Rate Cut Expectations; Palladium Surges on Supply Concerns
Gold prices surged more than 1% on Thursday, reaching a record high as expectations for an interest rate cut by the U.S. Federal Reserve next week strengthened following data suggesting a slowing U.S. economy. Spot gold climbed 1.6% to $2,552.63 per ounce by 11:40 a.m. ET (1540 GMT), while U.S. gold futures rose 1.5% to $2,581.40 per ounce, according to...
Gold Prices Rise on Fed Rate Cut Expectations; Palladium Surges Amid Russian Supply Concerns
Gold prices climbed on Thursday, supported by expectations of a US Federal Reserve rate cut next week, while palladium reached its highest level in over two months due to potential supply disruptions from Russia. Spot gold rose by 0.3%, trading at $2,517.88 per ounce at 0942 GMT, bolstered by support from the 21-day moving average at $2,505, according to Reuters....
BRICS Nations Urged to Partner with Nornickel on Palladium Innovations for Clean Energy
At the “BRICS Climate Agenda in Modern Conditions” forum held in Moscow, Nornickel proposed a collaborative approach with BRICS nations to further develop the palladium sector, focusing on green technologies. The forum, which addressed global climate change and strategies to mitigate its effects, saw the participation of Nornickel’s Palladium Center, which emphasized the strategic role of palladium in driving the...
Nornickel Explores New Technologies in Metals, AI, and Hydrogen Energy
Nornickel, the world’s largest producer of palladium and high-grade nickel, is expanding its focus beyond traditional markets into innovative technologies. Vitaly Busko, the company’s Vice President for Innovations, discussed in an interview with TASS how Nornickel is leveraging 3D printing, artificial intelligence (AI), and new applications for palladium, particularly in hydrogen-powered vehicles and water disinfection. Busko highlighted that 85% of...
Sibanye-Stillwater Faces Sharp Decline in Interim Earnings Amid Lower PGM Prices and U.S. Asset Impairment
Sibanye-Stillwater is set to report a significant drop in its interim earnings for the first half of 2024, with profits expected to plummet by nearly 100%. The company’s gold production decreased by 21%, while prices for platinum group metals (PGMs), particularly palladium, remained under pressure. Additionally, the company has recorded a R7.4 billion (USD 420 million) write-down on its U.S....
Sibanye Stillwater Faces Half-Year Loss Due to $420 Million Writedown Amid Palladium Price Drop
Sibanye Stillwater, a South African mining company, announced that it expects to report a loss for the first half of 2024, driven by a 7.5 billion rand (USD 420 million) writedown on its U.S. assets. The company attributed this to falling palladium prices, which have impacted the profitability of its operations in the United States. For the six months ending...
Falling Metal Prices Hit Nornickel’s Revenue, But Production Plans Unchanged
Nornickel has released its financial results for the first half of 2024, showing a significant decline in revenue and profits. According to the report, the company’s revenue dropped by 22% to $5.6 billion, while net income fell by 23% to $829 million. Free cash flow also saw a sharp decrease of 61%, totaling $525 million, the company said in the...
Innovative Palladium Catalyst from Tula Promises Environmental Benefits
Researchers from Tula have made a significant breakthrough in catalysis by developing a new environmentally friendly catalyst using palladium, a precious metal more commonly associated with jewelry. This advancement has the potential to revolutionize chemical reactions by enhancing efficiency while minimizing environmental impact. The team of eight scientists started working on the project in 2022 and successfully created an innovative...
Controlled Magnetic Thin Films Developed for Advanced Spin-Wave Electronics
Scientists from the Institute of Physics at Kazan Federal University, in collaboration with colleagues from the Moscow Institute of Physics and Technology (MIPT), have successfully grown thin films of a palladium-iron alloy with a controlled distribution of magnetic impurities using molecular beam epitaxy, as reported by the Russian Ministry of Education and Science. The research has demonstrated that by manipulating...