The Associated Press

Platinum and palladium prices are surging 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. Russia is the world’s largest producer of palladium and the second-largest producer of platinum.

In other trading, gold for August delivery rose $4.60 to $1,326.60 an ounce, while silver for September rose 6 cents to $21.12 an ounce.

Prices for wheat, corn and soybeans contracts fell.

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