Last week, the gold price in euros had already scratched its all-time high, and on Friday afternoon it reached it at 57.20 euros per gram. In view of the uncertainty caused by the war in Ukraine, many investors are taking refuge in the safe haven of gold.
The precious metal palladium also reached a new record price of over 85 euros per gram on the spot market. Here, the risk of supply bottlenecks due to sanctions against Russia plays a role. The warring party is one of the most important suppliers of the material, which is needed primarily in the automotive industry for catalytic converters.
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