Palladium rises despite negative outlook

Palladium prices rose during today's trading despite negative outlook for the next year and the dollar's rise against most major currencies.

A survey by "Reuters" showed that Palladium would rise by about $485 an ounce from the price of this year, but that price gap will be dwindling next year.

Palladium had risen to $449.55 an ounce in early 2016 and reached its all-time high in March at $1,600 an ounce, but the price has fallen since, and is now about $1,400.

The survey, which was attended by 27 experts and analysts this month, predicted that the average price of palladium this year would reach $1,350 an ounce and then $1,275 in 2020.

As of 14:03 GMT, the dollar index (against a number of major currencies) rose by 0.1% to 97.7 points, reaching a high of 97.8 points and a low of 97.5 points.

In terms of trading, as of 14:04 GMT, palladium futures (June delivery) rose by 0.4% to $1,349.4 an ounce, with a high of $1,356.3 and a low of $1,325.