Palladium heads toward $2,000 barrier

Palladium futures rose on Tuesday, after breaching the $2,000 psychological threshold that the metal has breached several times before, but soon today it fell below it again.

This comes at a time when countries are rushing to reopen their economies to save what can be saved and protect jobs and various economic activities.

Palladium is lifted by major economies reopening measures after months of closure to save and protect jobs and the other economic activities.

Industrial metals have been weighed down this week by fears about a second wave of the coronavirus outbreak in the US and China.

The Chinese government announced a lockdown on a number of districts in Beijing, after a significant surge in the number of new coronavirus cases for the first time since April.

The dollar index fell against a basket of currencies by 0.1% to 96.8 points as of 13:47 GMT, after it hit a high of 96.9 and a low of 96.4.

Palladium September futures rose 1.4% to trade at $1,959.8 an ounce as of 13:47 GMT, after hitting today's high at $1,973.6 and a low of $1,937.8.