If you are planning to buy palladium, you are probably interested in how it came into existence. Palladium is a silvery white metal that was originally found in the ore of Platinum at the dawn of 19th century. Interestingly, Platinum and Palladium being members of the platinum group of metals (PGMs), share many characteristics including aesthetics. Its name designation was inspired by the Pallas asteroid, which was identified just weeks before William Hyde Wollaston’s discovery of Palladium.
Although the metal has been recognized for over 1,000 years, it was not until the Spanish conquest that palladium was brought to the forefront. The Spanish initially considered the metal a disturbance since it meddled with their gold mining exercises. Wollaston is credited for both isolating and establishing palladium as a significant metal amongst its counterparts. The brilliant British chemist publicized his findings in 1805 , and went on to win many accolades for his technique, and discoveries.
Major shares of production of this soft and rare metal come from Russia and South Africa, and a comparatively minor, yet significant portion from the United States and Canada. Palladium has great investment potential, owing to the fact that its supply is slow, and the demand is high. Almost half of its supply goes into the production of catalytic converters for emissions control of devices in automobile industry. It is also used extensively in medicine, electronics, hydrogen purification, chemical applications, dentistry, treatment of groundwater, jewellery, and more. New uses for palladium emerge frequently adding to the metals demand, and scarcity.
Palladium is increasingly being preferred for wedding bands over its white gold and platinum counterparts taking into account its softness and lightness that offers more comfort. As a result of its delicate composition, palladium is durable and impervious to discoloration from oxidation. Another significant reason for its popularity is that Palladium prices are typically lesser than platinum, which also makes it is quite practical to invest in palladium bullion, bars, or coins that are usually available 1 and 10 troy ounce sizes, making it easier for you to have easy to store physical assets. Invest in palladium to secure yourself against inflation, devaluation of currency and other geopolitical and market uncertainties.
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