Palladium presents a less costly investment alternative to platinum

Written by: Melana Yanos

Precious metal enthusiasts who have invested in platinum might also be interested in investing in palladium, platinum’s less-expensive cousin. The silvery-white metal palladium, like platinum, is a platinum group metal; discovered in 1803 by William Hyde Wollaston, it was named after the asteroid Pallas that had been discovered the year before. Although “palladium” references the Pallas Athena, the Greek goddess of wisdom, investors will need to determine for themselves if a palladium investment is a wise opportunity.

Palladium price swings: Palladium has a variety of uses. The oxidation-resistant metal is most commonly used in the manufacturing of car exhaust systems, and like platinum, reacts in a manner that combats pollutants. Palladium is also used as an alloy in jewelry, especially in the production of white gold. Palladium may increase in popularity among jewelers and jewelry buyers, as its prices tend to be much lower than that of platinum jewelry.

Another notable feature is palladium’s ability to soak up huge volumes of hydrogen, which has become a focus for cold fusion and fuel cell research, according to PalladiumDealer.com.

Although solid demand for palladium is apparent, palladium supply is much less predictable. Read Full NuWire Article