An Overview of Platinum and Palladium
The following article is created by Orion Metal Exchange for the benefit of our investors and perspective investors alike. We seek to provide relevant content concerning precious metals and the impact caused by economic and geopolitical trends that will most likely impact your financial future. If you are interested in learning about precious metal investing, call 1-800-559-0088, for a FREE investor kit.
Platinum and palladium are precious white metals that are rarer than gold and silver. Both metals appear to be nearly identical to an untrained eye. Both metals also maintain a bright white color which will not tarnish over time. Platinum has reached an all-time high of $2,300 per ounce and palladium has reached an all-time high of $3,300 per ounce. Currently both metals are trading at approximately $1,000 per ounce.
Discovery of Platinum
First found and recorded in the 16th century during the time of the Spanish conquistadors, ores of platinum were discovered in South and Central America. It received its name from the Spanish term platina that translates to ‘little silver’.
Initially confused as worthless scrap at a time when only gold was recognized as precious, platinum was eventually acknowledged as a precious metal. Corrosion-resistance, durable and aesthetically attractive in nature, platinum soon became a precious metal that was synonymous with wealth and prestige.
The Industrial, Technological, and Investment use of Platinum
Platinum coins are utilized to protect against inflation. Sovereign mints produce platinum coins designated as legal tender and accepted in barter worldwide. Platinum is also used in jewelry, glass, catalysts, chemical compounds, healthcare, catalytic performance, electronics, hydrogen fuel cell power. Platinum is considered a key component to the global push for green energy. Based on the many different applications platinum is utilized in, demand will continue to be strong moving forward.
Discovery of Palladium
Named after the asteroid called Pallas, palladium was first discovered in the 1800s. Palladium is slightly darker than platinum. Palladium is a gloriously shiny gray-silver metal with similar properties as other metals in the platinum family.
The Industrial and Investment use of Palladium
The main demand of palladium is applied to catalytic converters. Palladium is also used in dentistry, jewelry, aircraft spark plugs, watch making, blood sugar test strips, electrical connectors, and surgical instruments. Palladium is used to make some professional transverse (concert or classical) flutes. Investors utilize Palladium coins as an investment to offset inflation and diversify away from the risks associated with debt.
Diversification in Platinum and Palladium
Platinum and palladium is extremely undervalued. Currently, platinum would need to double in value to approach its all-time high and palladium would need to triple in value to approach its all-time high. Platinum and palladium are 30 times rarer than gold and currently less than half the value of gold. The current market values combined with platinum and palladium’s supply deficits, which are expected to continue, point to a rise in values moving forward. Currently, Platinum and palladium are offered at a discount in comparison to all-time highs and investors should consider diversifying in these metals before they move higher.
FAQ: Your Key to Understanding!
What are platinum and palladium?
Precious metals that are in finite supply and needed for investment purposes and industry.
What is the overview of platinum?
Platinum is expected to rise in value throughout this decade. Some sources are calling for platinum to triple or quadruple in value within the next ten years.
What is the difference between platinum and palladium?
Palladium is slightly harder than platinum and more resistant to scratching. Platinum has better corrosion and rust resistance than palladium.
The following article is created by Orion Metal Exchange for the benefit of our investors and perspective investors alike. We seek to provide relevant content concerning precious metals and the impact caused by economic and geopolitical trends that will most likely impact your financial future. If you are interested in learning about precious metal investing, call 1-800-559-0088, for a FREE investor kit.
