The US economy released at 12:30 GMT, its monthly reading for the producer price index (PPI), which contracted by -0.3% in September (lowest level since July 2016), lower than forecasts and the previous reading of an expansion by 0.1%.

The core PPI reading (excluding food and fuel prices) also showed a contraction by -0.3%, lower than forecasts of 0.2% and lower than the previous reading of 0.3%.

Palladium prices fell today, to extend losses for the second straight day  and hit a 3-week low, on concerns about the US-China trade war after the US blacklisted 28 Chinese companies and government agencies.

Palladium spot price fell by 1.8% to $1,633.48 an ounce (its lowest since September 20), from the opening of $1,663.50, with a session-high of $1,667.67.

Palladium close lower by 0.25% yesterday, its second daily loss in the last 3 days, on profit-taking its all-time high of $1,700.25 reached last week.

Palladium reached its all-time highest level last week above $1,700 an ounce, on signes of supply shortages which increased fears about a market deficit.

Hopes for the US-China trade talks ebbed after the US Commerce Department blacklisted 28 Chinese companies and government agencies over Beijing’s treatment of Uighur Muslims and other predominantly Muslim ethnic minorities.

On the other hand, the Chinese Vice Premier Liu He will meet with the US trade representative Robert Lighthizer and US Treasury Secretary Steven Mnuchin on next Thursday and Friday in Washington.

The ongoing raging trade war between the world's two largest economies has cause a global economic slowdown worldwide which also led to weaken demand levels on industrial metals.

Palladium is used in the palladium in manufacturing components that reduce exhaust emissions, which led its prices to rise by 33% since the beginning of this year due to supply concerns despite a global slowdown car sales. 

Silver prices rose by 1% today, to head for the first daily gain in the last 4 days as haven demand improved while the US dollar dropped against a basket of currencies. 

Silver rose by 1.0% to $17.59 an ounce, from the opening of $17.42, with a session-low of $17.26.

Yesterday, silver closed lower by 0.6%, its third straight daily loss, as profit-taking from its 1-week high of $17.79 continued.

While the dollar index fell by 0.2% today, to resume its slide, which was temporarily halted yesterday for the first time in the 5 five days, which come in favor of silver and other dollar-denominated metals making them less expensive for other currencies holders.

This downturn for dollar comes due to mounting concerns over a US economic recession, in addition increased bets for the US Federal Reserve to continue cutting interest rates to counter slowdown risks.

The US Federal Reserve Governor, Jerome Powell, will deliver a speech by 17:50 GMT, titled "Data Dependence in an Evolving Economy" at the 61st Annual Meeting of the National Association of Business Economics, in Denver, and may include hints about the future of the US rate cuts during this year.

US dollar fell against most of its major counterparts today, to resume its drop after a brief respite yesterday, due to mounting fears about a near US recession and traders' increased bets that the US Fed would cut rates for the third time during this year, ahead of a speech by the US Fed Chair Jerome Powell.

The dollar index fell by more than 0.1% to 98.85 points, from the opening of 98.98, with an intraday high of 99.03 points.

The index rose by 0.15% yesterday, its first gain in the last 5 days,after a brief respite at the beginning of the week.

While during the last week, dollar shed 0.3%, its first weekly loss in the last 3 weeks, as weak US data continued to be released.

The continued weak US data increased the market's fears about a near US recession in addition to raising the market bets for the US Fed to cut the interest rates in its next meeting

Later in the day, investors awaited important data from the US on producer prices for September, as producer prices are a leading indicator of consumer prices as the main gauge of US inflation.

Investors are anticipating the release of the US PPI readings today, with forecasts for the the monthly reading to stabilize at 0.1% growth, unchanged from the August.

The US Federal Reserve Governor, Jerome Powell, will deliver a speech by 17:50 GMT, titled "Data Dependence in an Evolving Economy" at the 61st Annual Meeting of the National Association of Business Economics, in Denver, and may include hints about the future of the US rate cuts during this year.