Palladium rises, shrugs off rising dollar and coronavirus fears

Palladium prices rose on Tuesday, while the US dollar rose against its peers, amid fears over the pandemic.

The average daily Covid-19 infection rate has increased in many countries around the world, led by the US, which is now hit by a new wave of infections.

This comes as the new mutated Delta variant is spreading in many countries around the world, which foreshadows a slowdown in the global economic recovery and pausing the return of life to normal.

The dollar index rose against a basket of major currencies by 0.2% to 93.1 points as of 14:01 GMT, after hitting a high of 93.1 points and a low of 92.9 points.

Palladium September futures rose 0.7% to $2,621.5 per pound as of 14:01 GMT.