Palladium drops below $1,900/ounce

Palladium prices fell on Friday, as the US dollar rose against its peers, following Federal Reserve officials' statements.

Federal Reserve Chairman Jerome Powell and several Fed officials have hinted at the near start interest rate hikes to curb inflation.

This comes after the US consumer price inflation jumped by 7% during December, which is the highest level in 39 years.

However, US President Joe Biden sees a slowdown in prices, and Powell expected a drop in inflation when the economy returns to normal.

The dollar index rose against a basket of major currencies by 0.1% to 94.9 points as of 14:40 GMT, after hitting a high of 94.9 points and a low of 94.6 points.

Palladium March futures fell by 0.7% to $1,876 an ounce, as of 14:41 GMT.