Gold and Nickel Prices Jumped amid Escalating Russia-Ukraine Crisis

SHANGHAI, Feb 24 (SMM) - The news that Russian President Vladimir Putin decided to take military actions in the Donbass region sparked concerns in the commodities markets. As such, gold prices rose, while nickel and aluminium reacted more drastically on war-induced supply concerns as the supplies from Russia account for a relatively high proportion in the global market.

For the nickel metal, pure nickel supply from Russia accounts for more than 15% of globe. If the military conflict between Russia and Ukraine affects commodity exports, then nickel prices are expected to surge further.