Palladium returns below $1900 an ounce

Palladium prices fell on Tuesday as the dollar stabilized against most major rivals ahead of US inflation data.

US mid-term Congressional elections were launched today with analysts expecting the Republican Party to take the majority from Democrats. 

Later this week, important US inflation data will be released, pivotal for the Fed's policy decisions in December.

The Federal Reserve decided last Wednesday to hike interest rates by 75 basis points as expected. 

Palladium and other metals and commodities were hurt by ongoing Covid 19 restrictions in China, the world's largest commodity consumer. 

Goldman Sachs analysts expect China to carry on its Covid 19 restriction at least until the second quarter of 2023. 

The dollar index stabilized at 110.1 as of 15:04 GMT, with a session-high at 110.6, and a low at 110.05. 

Palladium futures due in December fell 0.1% to $1,896.5 an ounce as of 15:04 GMT.