Palladium backs off its highest this week

Palladium prices fell on Friday ahead of the weekend after hitting a one-week high, before declining on profit-taking as the dollar advanced and caution spread in the markets.

Palladium last traded at $795.60 an ounce, down from the opening of $801.6, with an intraday high at $805.17, and a low at $792.90. 

Palladium's current decline comes as the dollar climbs versus a basket of currencies before the weekend following upbeat U.S.housing data. 

On the other hand, caution remains in the markets ahead of the first round of the French presidential elections, cutting into the demand of commodities and riskier assets.