Recent palladium prices are the spotlight for many investors. With an increase of over 30% since the beginning of 2019, now is the time to buy palladium. Palladium has a recorded all-time high of 6851.50 in November of 2007, and a record low of 1358.50 in November of 1992. However, the metal is currently sitting around 1543.00. Here at Boston Bullion, we will always stay on top of current market trends to provide a level of expertise to our customers that they’ll find nowhere else. If you’re new to the game of palladium, here are a few facts about the metal to set you in the right direction.
Palladium is a chemical element with symbol Pd and atomic number 46. A rare silver-white transition metal of the platinum group, palladium resembles platinum chemically and is extracted from copper and nickel ores. It is primarily used as an industrial catalyst and in jewelry.
- Discovered in 1803 by William Hyde Wollaston, palladium is named after the asteroid Pallas.
- PGMs is the element group referred to as Platinum Group Metals. This group includes; palladium, platinum, rhodium, ruthenium, iridium, and osmium.
- Palladium as the lowest melting point and lessor density of all PGMs.
- Soft and malleable, palladium can be significantly increased in strength when cold-worked.
- Palladium doesn’t react with oxygen at standard temperatures.
- The automotive industry is one of the biggest consumers of palladium, with its use in catalytic converters.
- Junkyard palladium is being used to control care emissions is becoming scarce.
- A key component of fuel cells, palladium reacts hydrogen with oxygen to produce electricity, heat, and water.
- Other popular industries that rely on palladium are; dentistry, aerospace, and jewelers.
- More than 40% of the world’s palladium is mined from South Africa.
- A traditional way of purchasing palladium is buying bullion coins and bars.
- Some of the most popular coins include the Canadian Maple Leaf, the Chinese Panda, and the American Eagle.
If this precious metal is an element that has captured your attention then yes, we do recommend that now is the time to buy palladium. For more information, contact Ken at your local Burlington coin shop, Boston Bullion. Available by appointment only, be sure to schedule your time before it’s too late! (781) 710-8419.