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The price of palladium has skyrocketed over the last five years. In this time frame, it’s appreciated more than double that of gold, and ten times more than silver. This is quite an accomplishment for a metal that’s relatively less popular than its counterparts. It doesn’t receive much media attention, nor is it as well known to precious metal investors as gold or silver. Despite its lesser popularity, it’s one of the most important and valuable investments available.
Palladium is part of a group of six rare materials called the Platinum Group Metals. The others are platinum, rhodium, ruthenium, iridium and osmium. These materials share unique properties, but palladium is the most unusual. For example, it can absorb up to 900 times its volume of hydrogen. It’s also very durable, able to resist corrosion and heat. It’s even used to make medical equipment and surgical instruments.
Compared to other precious metals, palladium is 30 times rarer. That scarcity helps to drive its value. Additionally, demand for the material is expected to increase due to the automotive industry’s use of it in catalytic converters. In addition, Russian production disruptions are expected to limit global supplies.
Investors can purchase palladium in the form of bullion bars and coins. Bars tend to offer a more competitive premium compared to coins. However, coins are a legal tender and may offer some additional protection against inflation risk. No matter what type of palladium investment you choose, it’s essential to do your homework and understand the market before making a purchase. To start, have any palladium bars you currently own appraised by a reputable, impartial source. This will provide you with documentation detailing the condition, purity and overall value of each bar.