Risk aversion returned on the markets after the start of the US session. Stocks took a hit and some precious metals moved sharply higher following the news that Ukraine will implement a state of emergency from midnight February 24, almost at the same time as a broad cyberattack hit Ukrainian government and bank websites. Jitters were also heightened by news that the Kremlin has begun to evacuate the staff from its Kyiv embassy. Investors took these news as new signs that tensions are far from over and a diplomatic solution seems less likely, which in turn boosted demand for safe haven assets including precious metals.
Palladium price rose more than 5% during today's session and is currently testing major resistance zone at $2450.00 which coincides with 61.8% Fibonacci retracement of the last downward correction. Source: xStation5
