Palladium continues to jump and rises by 2%

Palladium prices rose during the day, as the dollar stabilized against most major currencies, as the metal resumed gains after a recent decline.

Although analysts recently described the jumps in Palladium's prices as a bubble that burst, they still expect it to continue to rise, given the strong demand for the metal from automakers.

Palladium is used in the manufacture of components that reduce toxic emissions in cars, especially since many governments and countries around the world are tightening environmental protection standards to combat climate change.

Meanwhile, by 14:17 GMT, the dollar index (against a number of major currencies) stabilized at 97.17 points, reaching a high of 97.1 points and a low of 96.8 points.

On the other hand, palladium futures rose by 1.7% to $1351.5 an ounce at 14:18 GMT, with the day's highest at $1354.3 and the lowest at $1328.9.

Palladium has jumped 70 percent since August, as it's getting closer to $1,600 per ounce due to strong demand and weak global supply.