Palladium falls despite optimism over Biden's climate policies

Palladium prices fell on Tuesday, despite the US dollar's drop against most of its peers, and optimism about US President Joe Biden's environment-friendly decision.

One of Biden’s first decisions was rejoining the Paris climate change agreement, an agreement for taking economic and environmental policies to reduce carbon emissions.

This will lift demand for palladium, as it's one of the metals used to reduce vehicles' pollutant emissions.

The dollar index fell against a basket of major currencies by 0.2% to 90.2 points as of 14:32 GMT, after hitting a high of 90.6 points and a low of 90.1 points.

Palladium March futures fell 0.9% to $2,325.5 an ounce as of 14:36 GMT, with a high of $2,350.5 and a low of $2,315.