If you want to move beyond using precious metals to secure your wealth to using precious metals to grow your wealth, you may want to explore investing in palladium. Especially when you consider that palladium is 30 times rarer than gold right now, yet about half the price.
We believe its low price is due, in part, to the fact that palladium is not as widely recognized as gold by the general public. However, palladium is highly prized by industry, especially auto-making where it’s used in catalytic converters. When the auto industry is growing, chances are the demand, and price, for palladium is too. In fact, when the stock market rallies, it’s a fair bet that palladium demand will be doing the same.
Beyond the automotive industry, palladium is used in everything from oil refining to electronics to dentistry to fabric. And, yes, it’s used in jewelry too thanks to its affordability coupled with its brilliant silver-white sheen that never rusts or oxidizes. Right now, there are wide-ranging industries that count on palladium to create their products, and who knows what breakthrough technology could put palladium in high demand tomorrow.
Current Spot Charts
More than half of the world’s palladium comes from Russia, the rest from South Africa, Canada and the U.S. However, at this moment, palladium is in a promising position thanks to its very finite supply, declining production and growing demand. This combination equals the perfect profit-making formula. History has shown us how high demand and limited supply drives the value of precious metals.