![]() ![]() As the Russian Norilsk Nickel is one of the three mining companies that produce most of the world’s palladium, sanctions on Russia may curtail global supply and cause the palladium price to spike.īecause of high market volatility, it’s hard to predict whether palladium prices will go up or down or to pinpoint the optimal time to acquire palladium cheaper. International crises like the Russia-Ukraine war can also influence palladium prices. However, if the automotive industry moves towards electric cars in the next decades, converters will become obsolete and the demand for palladium may drop, along with its spot price. Investors should keep these elements in mind when they try to predict a future price or plan to buy or sell palladium.įor example, one of palladium’s main industrial uses is in catalytic converters, which help reduce car exhaust pollution. Industry, market, and investment trends can influence the palladium spot price. As palladium isn’t just an investment metal but also has key industrial uses, industry shifts may drive the palladium price up or down. When demand outstrips supply, prices rise, and vice versa. Like any dollar-denominated commodity, palladium prices follow the supply-and-demand rule. ![]() Palladium belongs to the Platinum Group Metals, along with platinum, ruthenium, rhodium, and iridium. It is a silvery-white, lustrous, corrosion-resistant metal with high ductility. Palladium, a precious metal discovered in 1803, appears in the periodic table under the elemental symbol of Pd and the atomic number of 46. However, the price of palladium and other precious metals shifts constantly, so make sure to keep up with our price charts. This makes palladium more expensive right now than gold and platinum. Palladium prices currently hover around $2,250 per ounce, or $72 per gram. FAQ What Is the Price of Palladium Right Now? ![]()
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