Palladium advanced to the highest in more than two years as the U.S. threatened more sanctions against Russia, the world’s largest supplier of the metal used in pollution-control devices for cars. Gold fell.
Treasury Secretary Jacob J. Lew said the U.S. may impose additional “significant” measures against Russia if it continues to escalate tensions in Ukraine. Palladium gained 12 percent this year as the threat of disruptions in Russian shipments compounded supply concerns fueled by a strike by miners in South Africa, the second-biggest producer, and signs of accelerating auto sales in the U.S. and China.
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