Palladium falls on improved risk appetite

Palladium prices fell during trading today as investors shrugged off the precious metals such as gold in favor of dollar's rise against most major currencies.

This comes at a time when markets focus shifted towards the semi-annual testimony by Federal Reserve Chairman Jerome Powell before the US Congress.

Powell will talk tomorrow about monetary policy, the performance of the US economy and developments in global markets before the House Financial Services Committee, and this will be followed by other comments to the Senate on Thursday, possibly hinting at the direction of interest rates.

Otherwise, by 14:19 GMT, the dollar index rose by 0.1% to 97.4 points, reaching 97.5 points and 97.3 points.

In terms of trade, by 14:21 GMT, palladium futures (September delivery) fell by 0.9% to $1542.7 per ounce, and recorded a high of $1557 and a low of $1532.5.