Palladium tumbles to one-week trough

Palladium prices fell on Tuesday for the third straight session to a one-week low as the dollar rose against a basket of currencies, while traders sell off their palladium holdings to take profits.
 
Palladium last traded at $767.30 an ounce, down from the opening of $772.38, with a session-high at $773.7, and a low at $763.20.
 
Palladium's current drop comes on profit-taking after hitting several highs last week on strong industrial demand, after China's imports and exports rose, reflecting upbeat Chinese demand on commodities.
 
The dollar rose today for the second straight session as odds rise for another Fed rate hike in the next March meeting, underpinning the greenback.
 
The dollar index, measuring the greenback against an array of six major counterparts, rose to 101.50 from the opening of 100.94, with an intraday low at 100.91, and a high at 101.55.