Palladium dips as dollar hits six-month peak

Palladium prices fell in American trade away from May 11 highs for the fourth straight session as the dollar index rose to November 14 highs, following earlier data from the US, and after a speech by Federal Reserve Bank of Atlanta President Raphael Bostic in Dallas. 

As of 01:48 GMT, palladium fell 0.44% to $972.01 an ounce from the opening of $976.30, while the dollar index rose 0.45% to 94.20 from the opening of 93.77. 

Durable Goods 

Earlier US data showed durable goods orders fell 1.7% in April, compared to a 2.7% rise in March, and missing expectations of a 1.3% drop, while core orders accelerated to 0.9% from 0.1%, beating forecasts of 0.5%. 

Federal Reserve Chair Jerome Powell participated earlier today in a panel discussion titled "The future of central banking?" at the Sveriges Riksbank Anniversary Conference, in Stockholm.