What is palladium used for?
The precious metal palladium
| In times of major financial and economic crises, many people like to invest their money in precious metals. This has been shown by the recent sharp rise in the price of gold. But why only invest in the usual metals? Why not use lesser known but existing markets? |
The precious metal palladium, for example, is also traded on stock exchanges, but is generally rather unknown. And that although we encounter it more often every day. But what is palladium? Where does it come from? What is it used for? Does it offer a market with a growing future?
Palladium is a relative of platinum. It was first discovered in South American platinum ore in the 19th century and was named after the asteroid Pallas. Palladium is currently being marketed mainly from Russian Ural deposits. But palladium is also extracted in America, Australia and Ethiopia, primarily from copper and nickel ore. In its pure form it is almost nowhere to be found. The purity content is given in "fineness". As with other precious metals, the ounce is the basic unit in the sale of palladium. One ounce is equivalent to about 31 grams.
Palladium is used in many areas. For example, it is used to produce white gold. Here palladium is used to "decolorize" yellow gold and thereby refine it. In the production of catalytic converters for the automotive industry, it replaced the related but more expensive platinum. As an alloy in the electrical industry, it can also replace metals such as gold due to its similar properties. In this way, production costs can be reduced.
Just like gold or platinum, there is palladium in the form of bars, but also in coins. However, the latter were only minted in relatively small numbers, so that you have to search very carefully until you find a seller of such coins.
There is no doubt that palladium is a precious metal of the future. For one thing, it is already replacing some of the more expensive raw materials in industry. In addition, thanks to its versatility, it is already in use for the technologies of tomorrow, such as fuel cells and nanotechnology. The Asian market is growing and the demand for products in which palladium is processed, such as jewelry, catalytic converters for cars and alternative drives such as fuel cells, will continue to rise.
The demand for palladium seems to increase in the foreseeable future, and with it the price of raw materials. So if you invest in palladium now instead of gold and platinum, you could benefit from future rising demand and rising raw material prices. Palladium is the precious metal investment of tomorrow.
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