Palladium prices add nearly one percent

Platinum prices rose nearly one percent in American trade as the dollar index gave up ground, following earlier data from the US, the world's largest economy. 

As of 02:47 GMT, platinum prices rose 0.74% to $938.65 an ounce from the opening of $931.72, while the dollar index shed 0.36% to 96.85 from the opening of 97.20. 

Earlier payrolls data showed the number of new jobs in the economy down to 138 thousand in May unexpectedly, while the unemployment rate fell to 4.3%, the lowest since March 2001. 

Average hourly earnings rose 0.2% as expected, while the trade deficit widened more than expected last month. 

Standard Chartered analysts expect the platinum market to be mostly balanced, while projecting an oversupply of 63 thousand ounces this year, compared to a 42K deficit in 2016.

The bank also projected prices to pass through $1000 an ounce in the next 12 months as the market tightens.