Palladium gains ground at the open

Palladium prices rose in American trade even as the dollar index gained ground today, following earlier data from the US, the world's largest economy. 

As of 03:24 GMT, palladium prices rose 0.41% to $850.38 an ounce from the opening of $846.37, while the dollar index rose 0.15% to 94.00 from the opening of 93.95. 

Earlier US data showed a steeper than expected drop in existing home sales, while Standard Chartered recently projected a supply deficit of 563 thousand ounces in the palladium market this year, compared to a deficit of 459 thousand in 2016.