Palladium sets new highs as dollar erases gains

Palladium prices kept rising on Friday to the highest since March 2015, heading for the second weekly profit in a row, after the dollar trimmed its gains, while demand rose on industrial commodities. 

Palladium last traded at $814.88 an ounce, up from the opening of $777.83, with an intraday high at $815.48, and a low at $772.95. 

Palladium's surge comes amid higher demand on industrial metals as manufacturing data stabilizes in Europe and the U.S., reflecting higher demand on commodities, while gold extends its gains as well. 

As for the dollar, it pared its gains today after a positive start following mixed U.S. data that caused a loss of momentum, in turn buoying palladium and other commodities. 

The dollar index, tracking the greenback against an array of rivals, last traded at 99.75, compared to the opening of 99.74, with a session-high at 99.99, and a low at 99.60.