About Palladium and Palladium Trading
Why is palladium so popular?
Palladium belongs to the Platinum group metals, with platinum, ruthenium, rhodium, iridium and osmium. Its primary use is in the car industry due to its capacity to prevent air pollution.
Additionally, Palladium can absorb hydrogen like few other elements can, making it highly useful for nuclear industries.
What is palladium priced in?
Palladium is priced in U.S. Dollars per troy ounce. As of March 02, 2021, its value was $2,368.60 per ounce, higher than gold. The record palladium price high was $2877.50, set on February 28 2020.
Because most of the palladium resources can be found in a select few countries such as Russia, the United States and South Africa, any major developments in these states can potentially impact the commodity's quotations.
Can you trade palladium?
You can trade palladium futures on the CME's COMEX futures exchange and various other exchanges, as well as through ETFs, tracking the precious metal like an index fund. Alternatively, you can trade platinum in the form of CFDs. At CAPEX.com, you can follow the palladium chart and trade on the price shifts of this metal through CFDs. If you think that prices will go up, you can open a long position (BUY). If you think prices will decrease, you can open a short position (SELL).
Is palladium a good investment?
Palladium is regarded as a long-term portfolio diversifier. Throughout history, palladium has tended to be more expensive than gold and is generally considered to be amongst the rarest metals due to its scarcity. Supply and demand dictate the prices for palladium. During periods of sustained economic stability and growth, prices surge. During periods of economic uncertainty, prices fall because of reduced demand.