Palladium rises near $1,500 barrier

Palladium prices rose during today's trading as the metal approached the $1500 barrier and continues to hold a positive tone amid concerns about a lack of supply in the global markets.

The metal still receives support from car manufacturers demand, in particular because it is used in the manufacture of vehicle components that contribute to the reduction of the environment polluting emissions.

The industry's demand on the metal has increased due to the tightening of clean air and pollution control standards in a number of countries, especially the EU.

On the other hand, pressure on palladium and other commodities weakened as the dollar index (against a number of major currencies) fell by 0.1% to 97.5 points at 13:56 GMT, reaching a high of 97.6 points and a low of 97.5 points.

Palladium prices rose 1.2% to $1491.6 per ounce at 13:58 GMT, and hit a high of $1495.7 and a low of $1473.