Gold tests $2,000; supply worries lift industrial metals

Russia produces about 6 per cent of the world's aluminium, 10 per cent of global mined nickel and 3.5 per cent of world copper supply

Palladium shot to an all-time high as Russia's invasion of Ukraine and resultant sanctions stoked fear of scarcity, while gold tested the psychological $2,000 mark in response to demand for safe-haven assets.

Also, the London Metal Exchange (LME) said oit was closely monitoring nickel and other metals after prices surged as Western sanctions against Russia disrupted supply from the major producer. It gave no indication of what action it could take or whether it might be similar to previous action.

Russia produces about 6 per cent of the world's aluminium, 10 per cent of global mined nickel and 3.5 per cent of