Palladium climbs to near $1,800 an ounce

Palladium prices rose on Tuesday as the dollar declined against most major rivals ahead of important US inflation data. 

Despite warning remarks by the IMF earlier on the state of the global economy this year, a spate of recent data from major economies spurred some optimism. 

Later this week, US consumer prices data will be released for December, expected to shed light on the state of the economy. 

Fed Chair Jerome Powell said it's important for the Fed to be independent from political influence as inflation accelerates, and asserted that containing inflation requires hard decisions. 

Powell also said achieving independence for the Fed will allow it to use its tools effectively. 

Otherwise, the dollar index rose 0.2% as of 15:11 GMT to 103.1, with a session-high at 103.4, and a low at 103.03. 

Palladium futures due in March rose 0.5% to $1,785 an ounce as of 15:12 GMT.