Palladium—Hotter Than Gold!
In the world of precious metals, palladium has now risen to the top! It is considered the most expensive of the top four precious metals, beating out even gold in its value.
Though palladium was first discovered in 1803, recent severe shortages have driven prices to record highs. The chart compares the spot price of palladium to gold from 2017-2020. Palladium has seen a 240% increase in just a few short years!
With just two countries supplying most of the world’s palladium—Russia and South Africa—and with the metal being used in vehicle manufacturing, electronics, dentistry and exhaust systems, demand for this precious metal could remain high for some time.