Palladium resumes decline as dollar gains ground while Chinese Covid infections spread

Palladium prices fell on Friday after a return from the holidays in the US, with the dollar advancing against major rivals while Covid 19 infections spread in China. 

Chinese authorities continue to impose more stringent limitations on movements as infections spread to many cities.

Health authorities registered over 32 thousand Covid 19 infections on Thursday alone, forcing them to impose new closures and restrictions on trasnport. 

China is the world's largest metals and commodities importer, including palladium, with prices reacting rapidly to Chinese developments. 

The dollar index rose 0.1% to 106.2 as of 15:12 GMT, with a session-high at 106.4 and a session-low at 105.6. 

Palladium futures due in March fell 3.1% as of 15:12 GMT to $1,829 an ounce.