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Trading in two precious metals key to global industry got swept up in the disruptions caused by the war in Ukraine and Western sanctions against Russia.

The body that oversees London’s palladium and platinum market said Friday it would bar metal produced by two major refining companies owned by the Russian government. Prices for the metals soared on the move. Palladium futures PA00 rose 8.3% to about $2,407 a troy ounce following the suspension. Platinum futures PL00 rose 2.5% to $981.30 a troy ounce.

The…

Source: This post first appeared on http://marketwatch.com/

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