What metal is 30 times rarer than gold?

Platinum and Palladium ""Platinum and Palladium Are 30 Times Rarer Than Gold.""

investopedia.com - What Is Palladium, Its Uses, How to Invest in the Metal - Investopedia

How much does French doors cost?

On that note, the average cost of interior French doors ranges between $500 and $800. They can be made of any material and a single-paned glass,...

Last updated Jul 9, 2019

How much will 5 tons of gravel cover?

Understanding Size and Coverage Using 2 inches for the depth, the following measurements are a guide to the amount of gravel coverage per ton: 1/4...

Last updated Feb 28, 2020

Can I build my own shed?

Yes, with the right plans you can build your dream shed.

Learn More »

Promotion

What Is Palladium?

Palladium is a shiny, silvery metal used in many types of manufacturing processes, particularly for electronics and industrial products. It can also be used in dentistry, medicine, chemical applications, jewelry, and groundwater treatment. The majority of the world's supply of this rare metal, which has the atomic number 46 on the periodic table of elements, comes from mines located in the United States, Russia, South Africa, and Canada. Key Takeaways Palladium is a shiny metal used in many electronic and industrial products. Along with platinum, rhodium, ruthenium, iridium, and osmium, the metal is part of a group known as platinum group metals. The bulk of the world's palladium supply comes from Russia, South Africa, the U.S., and Canada.

Palladium is 30 times rarer than gold.

Palladium can be rolled into sheets, which are then used in applications like fuel cells and solar energy.

Understanding Palladium

Palladium is an important component in electronics, and it is used in many new technologies, such as fuel cells. As a commodity, it has drawn the attention of investors because it is not easily substituted for other metals. For example, the element is an important component of catalytic converters. Palladium, platinum, rhodium, ruthenium, iridium, and osmium form a group of elements referred to as platinum group metals (PGMs). Palladium is 30 times rarer than gold. This rarity affects its price on commodities markets and the metal reached record highs of more than $2,981 in February 2022. The record low of $41.70 was set in August 1977. In 2021, humans mined more than 200 metric tons of palladium. Russia produced the most at 80 metric tons. South Africa was second with 74 metric tons, and Canada ranked third with 17 metric tons. The United States produced 14 metric tons and Zimbabwe produced 13 metric tons. The price of palladium hovered around $100 to $150 per ounce from 1986 to 1996 before spiking in 2001. Historically, the price of palladium was more volatile from 2001 to 2016 compared to previous periods. It then started to steadily rise and surpassed the $1,500 mark in February 2019.

History of Palladium

What is an alternative to a garage?

The most popular garage alternatives are carports, sheds, Quonset huts, awnings, and car covers. Nov 14, 2022

Last updated May 10, 2020

Is Baltic birch better than birch plywood?

When it comes to strength and stability, Baltic birch is hard to beat. The wood has about twice as many plys as standard birch plywood, and each...

Last updated Apr 21, 2018

Are shed plans easy to follow?

These are! They guide you every step of the way to complete your dream shed.

Learn More »

Promotion

William Hyde Wollaston discovered palladium in 1802. It was an accidental discovery when he dissolved platinum in a nitric acid and hydrochloric acid mixture. Wollaston named the residue he found after the asteroid, Pallas. He did not announce his fortunate discovery to the world but rather sold it privately, marketing it as the next silver. Other scientists believed that palladium was just an alloy of other metals, forcing Wollaston to publicize his discovery to the Royal Society of London. As it became popular, palladium was used in the treatment of tuberculosis but had too many undesirable side effects and its use in the treatment of the disease was stopped. Palladium began being used in jewelry in 1939 but it was not until the late 1980s that the popularity of palladium grew. Automakers began using it in catalytic converters and today it is used in a wide array of products and industries, including dentistry, watchmaking, computers, photography, electronics, and the purification of hydrogen.

Benefits of Palladium

Jewelers first incorporated palladium into jewelry in 1939. When mixed with yellow gold, the alloy forms a metal stronger than white gold. In 1967, the government of Tonga issued circulating palladium coins touting the coronation of King Taufa Ahau Tupou IV. This is the first recorded instance of palladium used in coinage. Palladium is more durable and harder than gold and is also more expensive per ounce. Metalworkers can create thin sheets of palladium down to one-two hundred fifty thousandths of an inch. Pure palladium is malleable, but it becomes stronger and harder once someone works with the metal at room temperature. The sheets are then used in applications like solar energy and fuel cells. The largest industrial use for palladium is in catalytic converters because the metal serves as a great catalyst that speeds up chemical reactions. This shiny metal is 12.6% harder than platinum, making the element also more durable than platinum.

How to Invest in Palladium

Investors can gain exposure to palladium in a variety of ways. One of the easiest ways to do so is to invest in palladium-focused exchange-traded funds (ETFs) that track palladium bullion, such as the Sprott Physical Platinum and Palladium Trust (SPPP) or the Aberdeen Physical Palladium Shares (PALL). These ETFs hold physical palladium, providing the benefit of not actually having to store the metal for yourself but still getting exposure to its value. The opposite way of investing in palladium is by purchasing physical bullion itself. With this comes the cost of having to store and transport the physical metal.

Can my Neighbour access my garden without permission?

Entering your neighbour's property without their permission is trespassing, and so you must obtain their consent before trying to gain access. The...

Last updated Apr 7, 2021

How long will a wood shed floor last?

How Long Does a Pressure-Treated Shed Last? A pressure-treated wood shed can last up to 40 years. The benefit of treated wood is that it's more...

Last updated Feb 26, 2018

Are shed plans easy to follow?

These are! They guide you every step of the way to complete your dream shed.

Learn More »

Promotion

Another option to investing in palladium is to purchase the stocks of companies that are involved in the palladium business, usually its mining and sale. In this case, it can be difficult to focus just on palladium as mining companies typically mine a multitude of metals rather than just one, so you will be getting exposure to more metals than just palladium. What Is Palladium Used for? Palladium is used in catalytic converters for automobiles, in fuel cells to generate power, in jewelry, dental fillings, and electronic components. Catalytic converters convert the toxic gases from automobiles into less harmful substances. How Much Palladium Is in a Catalytic Converter? The amount of palladium in a catalytic converter depends on the size of the converter, which is dependent on the type of automobile. In general, though, two to seven grams of palladium are used in a catalytic converter. What Is Palladium Worth? As of July 27, 2022, the price of palladium is slightly over $2,021 per ounce, making it more expensive than gold at more than $1,728. The price of palladium has steadily been increasing since the mid-90s except for a dip in 2003 and 2008.

The Bottom Line

Palladium is a metal found primarily in Russia, South Africa, and Canada. It is stronger than platinum and has a wide range of uses, from dentistry to automotive to manufacturing to electronics. The price of palladium has increased significantly since its widespread use in the 1990s. Investing in palladium can be done through purchasing it physically as well as through ETFs.

investopedia.com - What Is Palladium, Its Uses, How to Invest in the Metal - Investopedia

Where are air gaps required?

Plumbing codes call for an air gap between portable water and a drain. This gap is usually about the distance between the faucet and the top of the...

Last updated Apr 21, 2019