Palladium prices rose over one percent in American trade away from October 25 lows for the fifth straight session as the dollar index bounced off January 23 highs, following earlier data from the US, the world's largest economy. 

As of 02:37 GMT, palladium rose 1.13% to $1,015.20 an ounce from the opening of $1,003.84, while the dollar index fell 0.41% to 88.75 from the opening of 89.12, marking February 1 lows. 

Earlier US data showed producer prices rose 0.4% in line with expectations in January, compared to a 0.1% dip in December, while core prices rose 0.4%, compared to a 0.1% slip, and beating expectations of a 0.2% increase. 

Unemployment claims rose 7 thousand to 230 thousand from 223 thousand in the previous reading, above expectations of 229K, while the Philly manufacturing index rose to 25.8 from 22.2 in January, beating forecasts of 21.5. 

The Empire State Manufacturing Index fell to 13.1 in February from 17.7 in January, while industrial production fell 0.1% in January, compared to a 0.4% rise in December, revised from a 0.9% increase, while analysts expected a 0.2% rise. 

The Capacity Utilization Rate fell to 77.5% from 77.7% in December, revised from 77.9%, and missing expectations of 78.0%. 

Palladium, one of the rarest metals on earth - 30 times rarer than gold- managed to reverse the march away from record highs as dollar gave up ground, while noting that Russia and South Africa provide over 75% of global palladium supplies. 

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, while expecting upbeat gains throughout the ongoing 12 months, which was reflected in palladium's surge to record highs recently.

US industrial production fell 0.1% in January, compared to a 0.4% rise in December, revised from a 0.9% increase, while analysts expected a 0.2% rise. 

The Capacity Utilization Rate fell to 77.5% from 77.7% in December, revised from 77.9%, and missing expectations of 78.0%. 

Oil prices lost their gains on Thursday after advancing in European trade for the second day, propped up back then by dollar's tumble against major rivals and Saudi Arabian oil minister's remarks on commitment to output cuts throughout the year, however US oversupply concerns forced prices lower after output rose to fresh record highs. 

As of 13:00 GMT, US West Texas Intermediate fell to $60.45 a barrel from the opening of $60.67, with an intraday high at $61.53, and a low at $60.28. 

Brent dipped to $63.90 a barrel from the opening of $64.38, after rising 2.9% yesterday, while US crude jumped 3% away from two-month lows at $58.06. 

The dollar index slid 0.5% for the fourth consecutive sessions against a basket of major rivals, in turn underpinning dollar-denominated commodity futures such as oil. 

Saudi Arabia oil minister Khalid Al-Falih said OPEC would prefer to see supply shortages over terminating the output deal too quickly. 

The Energy Information Administration reported a rise in US crude inventories by 1.8 million barrels in the week ending February 9, the third rise in a row, but less than expectations of 2.8 million. 

US output rose 20 thousand bpd, the fifth weekly increase in a row, to a total of 10.27 million bpd, a record high. 

Us output has risen over 20% since mid-2016, passing Saudi Arabia and nearing Russian production, the largest in the world. 

Ethereum rose on Thursday for the second straight session to two-week highs as most cryptocurrencies gain ground on improved risk appetite after positive regulatory progress in South Korea and India.  

At Bitstamp, ethereum rose $7, or 0.8% to $929 from the opening of $922, with an intraday high at $951, and a low at $905. 

Ethereum rallied 9.5% on Wednesday, the second profit in three days and the largest since January 28. 

As most cryptocurrencies rally, their market value increased $25 billion to $478 billion, up $80 billion from the start of the year. 

However, the market value is still $400 billion less than the record high reach in January at $830 billion.

South Korea is studying the system of BitLicense used in New York, which allows for exchanges that only have the said license from the official financial services authority to regulate and supervise cryptocurrency trading. 

In India, authorities are planning to launch a database for cryptocurrency trades, linking the traders' account data with a permanent account number as the government focuses on regulating and taxing the new business.