Trading Palladium and Other Precious Metals with Titan FX
Much like platinum, palladium is also a malleable, non-corrosive and catalytic precious metal. With its lustrous sheen and silver shade, palladium belongs to the group of noble elements. Among this group of noble (inactive) metals, palladium is the least dense with the lowest melting point. It also has extraordinarily high absorption properties. This makes palladium another high value metal in many industries and a potentially good investment.
In today’s market, palladium is more scarce than gold or platinum. With its strong demand and limited supply, the global production of palladium has yet to increase. Because of the appeal and rarity of this precious metal, palladium has attracted many investors as a reliable store for value.
Why trade palladium with Titan FX?
- 500:1 Leverage
- 0.01 lots to 50 lots
- No commission charges
- No contract expiry
- No need to physically store metals
Learn about Palladium
The historical background of palladium is quite unconventional compared to other stories of popular precious metals. Unlike the discovery of gold, silver and platinum, palladium was encountered after a series of experiments. An English chemist discovered palladium after he began testing the residues of platinum ore from South America. Because of his uncommon method of experimentation, there was no immediate trading of this new metal until further studies.
Once his techniques were perfected, palladium was soon established as a byproduct of platinum, not its alloy. After wide acceptance, palladium was slowly introduced to the market and named after a newly discovered asteroid, Pallas.
The Value of Palladium
The global production of palladium is different than the rest of precious metals. The method of acquiring palladium metal involves extraction from nickel, copper and zinc refining. Despite being less expensive, the rarity of palladium is much higher than gold or platinum.
Palladium has high melting point, doesn’t rust or tarnish and is also used as a catalyst. Although having many similar qualities to platinum, palladium sets itself apart from other noble metals because of its:
- Remarkably high absorbent qualities
- Market supply and mining production is much lesser than gold and platinum
- Malleable and ductile like gold
- Least dense of the inactive metals
- Has the lowest melting point in the group of inactive metals
The demand of palladium comes from the automobile industry. Being a catalytic and more ductile metal, palladium is widely used as an important part of catalytic converters. Much like platinum, palladium is also used in industrial applications like medical equipment and electrical connections. When combined with gold, it is also highly valued in jewellery as white gold.