Palladium prices climb as dollar resumes decline

Palladium prices rose on Friday as the dollar index fell against most major rivals, but weaker risk appetite remained dominant and hurt assets.

US treasury yields are holding near 16-year highs amid speculation the Fed might increase interest rates once more this year, and concerns about the Chinese banking sector.

Such consideration multiplied after the Federal Reserve clearly hinted at its meeting minutes its intent to carry on the fight against inflation.

Otherwise, recent court documents showed Evergrande applying for chapter 15 bankruptcy in the US.

According to Bloomberg, the court documents showed the major Chinese real estate company applied for such a request in New York.

Otherwise, the dollar index fell 0.2% as of 16:37 GMT to 103.3, with a session-high at 103.6, and a low at 03.2. 

Palladium futures due in September rose 2.7% as of 16:38 GMT to $1,254 an ounce.