Palladium is a relative newcomer to the precious metals market. Its mining history is short compared to other metals, but it is taking off in value. Investors are choosing palladium in large numbers because of its multiple uses and seemingly bright future. However, many people still have a lot of questions about palladium and its role in their investments. Here are the facts you need to know.
Where Palladium Is Found
Palladium exists alongside platinum in the Earth’s crust, but historically, it has not been mined when platinum was extracted. This changed when discoveries about its characteristics were made. Like platinum, palladium is extremely hard, but unlike platinum, it has a low melting point. Palladium is mined all over the world, but the biggest suppliers are the U.S., Russia, and South Africa. Palladium is also extracted from recycled car and machine parts.
How Palladium Is Used
Thanks to its hardness and low melting point, palladium offers the perfect combination of strength and workability. That makes it prized in a number of industries. The jewelry industry has a high demand for palladium for customers who want the look and benefits of platinum, but with a lower price tag. Palladium is also used heavily for industrial work, particularly for car parts. Applications for palladium continue to expand.
Why Palladium Is Valuable
Palladium is not as rare as other precious metals, but its value has soared in recent years. Increased demand is the reason. Because there are so many industrial uses for palladium, the demand is high in the commercial market. As the global economy has turned a corner in recent years, industrial manufacturing has boomed. This increase has translated into greater demand for palladium. With continued recovery forecasted, demand for palladium is likely to increase.
Does palladium have a place in your precious metals investment portfolio? California Numismatic Investments can help you make the right decisions about investing in palladium. In fact, our experts can help with all of your precious metal investing needs. Get the answers to your questions about palladium and more by calling (800) 225-7531.