Despite not being as popular as gold and silver, palladium remains a persistent attractive investment in the commodities market. Found mostly in the caverns of Russia and South America, it is mined for its unique chemical component used to make catalytic converters in automobiles—said to consume more than 70% of the global supply of Palladium. This precious metal is also minted to make aircraft spark plugs, coins and as important components of surgical instruments, jewelries and even fuel cells.
The discovery of palladium is a recent event if you will compare it to gold and silver. William Hyde Wollaston, an English chemist and physicist, first recognized the new noble metal in July of 1803 but only came out publicly as its discoverer in 1805.
Global demand for palladium soared from 100 tons in 1990 to more than 300 tons in the early 2000's. 222 tons of these was sourced in Russia. Named after the asteroid '2 Pallas', which in turn was named after Pallas, the Greek Goddess of Wisdom, palladium was first incorporated into jewelry-making in 1939. When mixed with yellow gold, it helps forms a sturdy metal found to be stronger than white gold.
Similar to other precious minerals, the price of palladium is constantly changing and even to a point when it became more expensive than gold in the market. To help you decide whether to invest on this precious metal, make sure to understand that these following reasons play a vital role in driving up and down its market value:
Because it is hard to buy directly an actual metal, you can invest on palladium via these other options:
While most people are already familiar with the physical appearance of gold and silver, palladium is a mystery to many. To get an idea of how it looks like, here are some of its physical characteristics:
There are several ways of engaging in CFD trading of palladium. All you need to do is find a reliable broker or CFD trading platform such as eToro to open an account and deposit your fund.
Trading this commodity in eToro's CFD trading platform doesn't require any storage fees since you won't be trading any physical form of this metal.
Unless you know a trusty supplier of palladium, the most preferred means of investing or buying palladium is through the stock. More investors are using social-trading app such as the eToro CFD trading platform to not only trade and invest on the stock market, but also to invest on precious metals.
Historically, palladium has seen countless good days in the market trading higher than other precious minerals such as the gold. Moreover, it has quadrupled its value in the last five years peaking at $2,986 an ounce in May of 2021.
Currently, it has a 52-week average of $2,686-$2,986.50.
The market vallue of palladium when this page was accessed is
If you're considering to invest or trade PALLADIUM CFDs, then it would be much simpler to click the button below. This will take you directly to eToro's trading page for this precious metal.
But before you can trade this precious metal on eToro, you'll need to open an account with them and this will only take a few minutes to accomplish.
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