You may be aware of the value of gold as a precious metal, but have you heard about Palladium? Palladium is less well-known than gold, platinum, or silver metal options, but it is still a valuable precious metal.
The many uses of Palladium, along with its rarity, are the driving forces of its current popularity. Here's a look at the many uses of Palladium and why it's an asset precious metal on the market today.
What Is Palladium?
Palladium belongs to the platinum group metals (PMG). These metals include:
Palladium is a silver-white metal that's similar to platinum. It's the least dense and softest of the precious metals. It also has the lowest melting point.
Palladium has the symbol Pd and is number 46 on the periodic table.
The name is taken from the Greek mythological character Pallas, whom Athena wounds in a friendly fight. Feeling remorse, Athena erects a statue of Pallas and calls it the Palladium.
This metal doesn't react to oxygen unless heated to extreme temperatures. Consequently, Palladium doesn't tarnish within any range of normal temperatures.
Palladium deposits are rare in nature, so production is limited. The primary Palladium sources are found in Russia and South Africa.
What Is Palladium Used For?
This precious metal now has a variety of essential functions in today's technological age.
Palladium's most common use is for catalytic converters for automobiles. It's also helpful for petroleum cracking, hydrogenation, and dehydrogenation.
Palladium is useful in the electronic industry. Palladium coats the electrodes that are used in ceramic capacitors. These are found in cell phones, laptops, and other electronic devices.
Medical and Dental
Palladium is useful in dental instruments and increases their sheen while decreasing corrosion. These qualities make Palladium useful in producing medical devices and surgical instruments.
Hydrogen diffuses through heated Palladium. This is helpful for purifying hydrogen. Palladium reacts with carbon monoxide to create carbon dioxide and is used in making carbon monoxide detectors.
Hydrogen is unstable and difficult to store safely. Palladium is used in creating the compound palladium hydride. This helps create a safer and more efficient way to store hydrogen fuel.
Jewelers are using Palladium in their designs. Palladium is similar in appearance to platinum, and it's a desirable precious metal in the jewelry industry.
Palladium is very resistant to tarnishing. It's often combined with gold to create white gold pieces. It has low density, and jewelers can mold and shape it into delicate patterns. Another benefit is Palladium's low toxicity. This makes it a popular option for those with sensitive skin.
Palladium is also valuable in today's photography industry. Palladium salts are often used in place of platinum to create black-and-white prints.
Investing in Palladium
Palladium is currently a popular option for precious metal investors. The surging demand for Palladium is primarily driven by its essential role in catalytic converters.
With the growing pressure to reduce vehicle emissions, there is an increasing need for the unique properties of Palladium. The recent Ukraine conflict has placed additional strain on the already limited supply of this metal, causing its price to rise even further.
A Worthwhile Addition to Your Portfolio
Many investors consider Palladium a worthwhile investment in their precious metal holdings. As part of a diversified portfolio, it can help protect your wealth during inflation or economic uncertainty.
Palladium's rarity makes it a smart investment for those wanting a diverse precious metals portfolio.
Precious metals are popular due to their tendency to increase in value when there's a decline in economic performance. They are a hedge against inflation and the reason why gold and silver are so popular with today's investors.
Palladium follows a similar trend and protects investors against inflation and other economic concerns.
Palladium as a Long-Term Investment
The future of Palladium investing is promising. The scarcity of the metal is expected to continue, especially with the turbulent times ahead for Russia. Demand should continue to rise as the need for reducing carbon emissions only increases in the future.
How to Invest in Palladium
If you're interested in including Palladium as part of your precious metal portfolio, we can help. The U.S. Gold Bureau strives to deliver our valuable customers the utmost quality service and professionalism.
We offer the highest precious metals experts, cutting-edge systems, and superior products. Start investing by creating a new customer account with the U.S. Gold Bureau, or call us at 866-953-0041.