Relatively hard: Palladium is considered to be a softer metal, but it is still much harder and more durable than gold, which lends more protection against impact and a greater resistance to denting. Compared to gold's knoop hardness of 200, Palladium has a knoop hardness of 400.
High demand and low supply make palladium very scarce, far scarcer than gold, and this has been key in pushing palladium past gold in the past few years.
Palladium is Rare
Plus, restrictive environmental policies limiting the extraction and mining of the metal have further constricted global supplies. Palladium's relative rarity makes it a valuable investment option when used to strategically diversify a Precious Metals portfolio.
Palladium's most incredible ability is that it can absorb up to 900 times its volume of hydrogen, according to the Thomas Jefferson National Accelerator Facility. Because of this ability, palladium is used to store and filter hydrogen.
Durability. As you may have already figured out, palladium is stronger and more durable than white gold given its internal chemical makeup. "This is really where the metal alloys matter most," shares So.
Palladium Is More Valuable than Gold & Silver
It also tops platinum when it comes to current market value. On average, prices for palladium rings today are around $2,000, according to Brides.com.
Relatively hard: Palladium is considered to be a softer metal, but it is still much harder and more durable than gold, which lends more protection against impact and a greater resistance to denting. Compared to gold's knoop hardness of 200, Palladium has a knoop hardness of 400.
Palladium is often purchased because of its widespread use in various industries. For instance, it's widely used in the dental industry for fillings and other items. It's also a popular option for jewelry.
Palladium is an important component in electronics, and it is used in many new technologies, such as fuel cells. As a commodity, it has drawn the attention of investors because it is not easily substituted for other metals. For example, the element is an important component of catalytic converters.
As a result, the mining giant experienced a 28% reduction in palladium output, reducing the global supply to 6.4Moz. A culmination of these factors has resulted in palladium being one of the rarest metals. Palladium is estimated to be about 15 times rarer than platinum, making it significantly more expensive per ounce.
Palladium does have its negative side, though. It used to be far cheaper than platinum, but the rare metal is now more expensive than almost all other precious metals. Also, many jewelers choose not to work with palladium because of its brittleness when not properly handled.
Of the two metals, platinum is stronger than palladium, but again both metals are strong enough to be used for engagement rings or wedding rings that are worn daily.
Palladium is expected to be a profitable investment in 2023 due to a combination of macroeconomic and fundamental drivers.
Platinum: Despite being nearly identical in appearance, platinum is more valuable than gold. Platinum's high price point can be attributed to its rarity and density as precious metals are often priced by their weight.
In its pure state, palladium is slightly softer than platinum, but both are impractical as a jewelry material because they would be too soft. The palladium alloys currently available are roughly comparable in hardness with the platinum alloys in popular use.
The largest use of palladium today is in catalytic converters. Palladium is also used in jewelry, dentistry, watch making, blood sugar test strips, aircraft spark plugs, surgical instruments, and electrical contacts. Palladium is also used to make professional transverse (concert or classical) flutes.
In 2021, China accounted for the largest consumption share of palladium worldwide, at 26 percent of global consumption. North America was the second largest consumer of palladium that year.
1. RHODIUM: TOP MOST VALUABLE METAL. Rhodium is the most valuable metal and exists within the platinum group of metals. It is used in jewelry for a final finish on white gold jewelry.
As a result, Platinum and Palladium are tarnish resistant. They are uncoated. Their metal colour is the natural surface of the metal.
Palladium was “badly hit” by an anemic auto sector, and demand hasn't recovered since the pandemic, says Nikos Kavalis, managing director at Metals Focus. He says substitution from palladium to platinum and a rise in battery-powered vehicles contributed to palladium's steeper decline.
Palladium is regarded as of low toxicity, being poorly adsorbed by the body when ingested. It may cause skin, eye or respiratory tract irritation, may cause skin sensitisation. Liquid may cause burns to skin and eyes.
Palladium vs Titanium
If you are deliberating between Palladium and Titanium, there are 2 main differences. Titanium is not a precious metal and costs far less than Palladium. Furthermore, it is harder but will also scratch. Both Palladium and Titanium can be engraved.
Platinum carries greater volatility than other choices, making it more susceptible to price drops. Meanwhile, gold is relatively stable, but it may not be a strong hedge against inflation over the short term. It ultimately depends on the type of investment strategy you have, your diversification needs and your goals.