What is paladium?

Palladium is a rare and precious metal that belongs to a group of elements known as the platinum group metals (PGMs). It was first discovered in 1803 by William Hyde Wollaston and is named after the asteroid Pallas. Palladium is a silver-white metal with a density similar to platinum and has excellent corrosion resistance and catalytic properties.

The majority of palladium is mined in Russia and South Africa, but the metal can also be found in Canada, the United States, and Australia. It is commonly used in catalytic converters in automobiles, as well as in electronics, dentistry, jewelry, and various industrial applications.

Palladium is also a popular investment choice, with a significant portion of the metal being purchased by investors and stored in vaults. Its price can be volatile due to fluctuations in supply and demand, geopolitical events, and changes in the global economy. As of 2021, palladium is one of the most expensive metals, with a price per troy ounce exceeding that of gold.