Palladium rebounds from one-week low

Palladium prices returned higher today away from a one-week low hit yesterday as commodities regain their footing following strong U.S. growth data, which boosted demand on industrial commodities. 

Palladium last traded at $797.27 an ounce, up from the opening of $788.8, with an intraday high at $804.45, and a low at $786.6. 

Palladium's current rise comes following upbeat U.S. GDP data for the fourth quarter of last year, reflecting strong demand on industrial commodities from the world's largest economy. 

On the other hand, the dollar rose against a basket of rivals today, but that didn't weigh on palladium due to upward demand and short-covering factors following its decline earlier this week. 

The dollar index, tracking the greenback against a basket of rivals, rose to 100.38 from the opening of 99.97, with an intraday high at 100.42, and a low at 99.89.