Palladium soars by 4% on semiconductor news

The price of palladium surged by more than 4% on Tuesday after China hinted at the standardization of artificial intelligence (AI) by 2026 establishing about 50 sets of rules. Meanwhile, the Taiwanese CTEE reported that Apple is raising the orders of chips necessary for its iPhone 15.

Additionally, technology startups Aethero and Cosmic Shielding Corporation (CSC) announced their intention to cooperate on implementing more powerful computing systems in space.

Palladium jumped by 4.21% at 12:27 pm ET to sell for $1,005.35 per ounce. At the same time, platinum increased by 1.57% to go for $997.23 per ounce. On the other hand, gold lost 0.37% to sell for $2,323.10 per ounce. Simultaneously, silver declined by 0.35% to go for $29.35 per ounce.