Platinum and palladium prices surged Tuesday after Ukraine's president abandoned a cease-fire with pro-Russian separatists.
Platinum for October delivery jumped $32.10, or 2.2 percent, to settle at $1,515.00 an ounce. That's the highest price since last September, according to FactSet. Palladium for September rose $11.45, or 1.4 percent, to $854.60 an ounce.
Ukrainian troops and the separatists fought an hours-long gunbattle in the largest city in eastern Ukraine on Tuesday. The fighting renewed concerns that Russia's exports of the metal could be disrupted. The European Union has threatened to impose a third round of sanctions against Moscow unless Russia uses its influence to end the violence. Russia is the world's largest producer of palladium and the second-largest producer of platinum.