Palladium adds 1% in American trade

Palladium prices rose past $1,000 for the second straight session even as the dollar index bounced off the lowest since September 25 for also a second session, after earlier US data and ahead of speeches by Fed officials. 

As of 03:44 GMT, palladium rose 0.97% to $1,017.72 an ounce from the opening of $1,007.96, while the dollar index rose 0.20% to 93.09 from the opening of 92.90. 

Earlier US data showed the House Price Index slowed down to 0.3% in October from 0.8% in September, missing expectations, while analysts await New York Federal Reserve Governor William Dudley's speech later today, in addition to the consumer confidence survey for November. 

FOMC member Jerome Powell will testify ahead of the Senate Banking Committee to confirm his candidacy to the post of Fed Chair after current occupant Janet Yellen ends her term in February. 

Otherwise, Standard Chartered recently projected a supply deficit of 563 thousand ounces in the palladium market this year, compared to a deficit of 459 thousand in 2016.