March 24, 2014
Bali, Indonesia
Bali, Indonesia
Palladium is like the Rodney Dangerfield of precious metals. It never gets any respect.
If you ask someone about precious metals, in fact, just about everyone has heard of gold and silver. And occasionally platinum.
But palladium is one of those obscure precious metals that few people think about, or even know about.
Aside from actually having its own currency code (XPD), palladium is widely used in a variety of industrial applications, from spark plugs to catalytic converters to hydrocarbon ‘cracking’ to electronic components.
And here’s something most people don’t know: most of the world’s palladium is mined in Russia.
Since October 2013, Palladium prices have had a moderate boost—about a 5.3% increase in five months.
But given what’s happening in Russia, prices could soar. In fact, with trade sanctions looming, palladium could be taken off the world market indefinitely.
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