Palladium jumps above $2,300/oz

Palladium prices rose on Tuesday, as the US dollar fell against its major peers, amid focus on the latest developments of the coronavirus crisis.

Coronavirus infections rose to more 25 million cases globally, with a death toll of more than 850,000 victims, while the US reported 6 million cases.

The continued escalation of the coronavirus crisis might force many countries to re-impose their lockdown restrictions, which in turn halts production on all sectors, including mining activities.

The dollar index fell against a basket of currencies by 0.2% to 91.97 points as of 14:48 GMT, after hitting a high of 92.1 and a low of 91.7.

Palladium December futures rose 2% to $2,323 an ounce as of 14:50 GMT, after hitting a high of $2,344.7 and a low of $2,264.2.