Palladium price and charts
CURRENT PALLADIUM PRICE
1 UNCE:[ [palladium_unce_usd]] $ | € |
1 GRAM: $ | € | [ [palladium_gram_domaci_currency]]
PALLADIUM - THE RAREST METAL IN THE MODERN WORLD
Palladium is one of the most valuable platinum metals. Experts estimate that it is 15 times rarer than platinum and even 30 times rarer than gold. Like platinum, palladium does not have the long history that gold or silver can boast.
The discovery of palladium dates back to 1803, when English chemist and physicist William Hyde Wollaston isolated it and named it after the asteroid Pallas a year later. Initially, palladium was thought to be a worthless product of platinum mining, but it is now proven to be one of the most valuable metals on the market.
The London Platinum & Palladium Market
Leading organisations involved in the palladium trade in major centres around the world are represented in the London market. They are governed by rules established in 1984 through the "London Platinum and Palladium Quotation", the forerunner of today's "The London Platinum& Palladium Market". The LPPM trade association is the key intermediary between the London market and other official bodies. It ensures and supports the sound development of the platinum and palladium market.
Limited and dependent palladium resources
Palladium reserves are not huge, with global production of only around 210 tonnes per year, similar to platinum. Newly discovered deposits often have such low concentrations of the metal that any mining would be unprofitable. This has created a dependence on two main producers. More than 40% of palladium comes from South Africa. Russia produced as much as 44% in 2022. The remaining percentages are shared by the US, Canada, Zimbabwe and other countries.
The limits on production are reflected in the market and any shortfall in the resource also has a significant impact on the price. The proof was seen in March 2022. The war in Ukraine and subsequent anti-Russian sanctions literally shot the price of palladium to a record high of more than USD 3440/Oz.
The metal's irreplaceability is boosting demand
Palladium has found a major use in the automotive industry. As an important component of catalytic converters, it contributes to reducing exhaust emissions. At the same time, it is the only metal capable of capturing hydrogen at certain temperatures, making it indispensable in the chemical sector. Palladium's anti-corrosive, hypoallergenic and antioxidant properties have made it destined to replace previously traditional metals in dentistry and jewellery. The metal meets minimal maintenance requirements and does not cause allergic reactions in contact with the human body
The world's mints and refiners are responding to this fact by steadily expanding their portfolios with investment coins and ingots made from palladium.Parallel ranges of leading investment titles in a metal that still represents something new and uniqueare coming to the fore
The main factors influencing the price of palladium
- Supply versus demand - demand is expected to be approximately 9.7 million ounces in 2023. Due to the decline in supply, the deficit will widen and will already exceed 700,000 Oz, the highest since 2018
- Greening development - a substantial proportion of the palladium mined is used in catalytic converters that remove harmful exhaust gases from petrol cars. The current environmental trend is driving an increase in the consumption of this metal.
- Geopolitics - the largest production of palladium is in fact in two countries. South Africa's and Russia's relations with the outside world will be critical to the export and market availability of the metal.
- Black swans - global upheavals can fundamentally change the view and perception of traditional values
- The US dollar - the exchange rate of the national currency of the world's largest economy is linked to US central bank policy
- Czech koruna - the trend in currency appreciation or depreciation must be taken into account in the development of precious metal prices
