Palladium climbs 1% in American trade

Palladium prices surged over one percent, testing $900 as the dollar index gave up ground, ahead of later data from the US, the world's largest economy.

As of 02:58 GMT, palladium prices rose 1.11% to $899.50 an ounce from the opening of $889.61, while the dollar index shed 0.10% to 93.34 from the opening of 93.43. 

Later US data included the JOLTS job openings, expected to have risen to 5.74 million from 5.67 million in May, while last week, the payrolls report showed the economy created 209 thousand new jobs, while the unemployment rate declined to 4.3%, as average hourly earnings accelerated in line with expectations. 

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. 

The bank also expected more gains for palladium prices in the next 12 months to 2014 highs