Can you hold Palladium in your IRA?
Precious metals IRAs are considered to be one of the safest investment options.
People like to invest in precious metals believing they are the best option for a long-term investment plan due to the constant increase in demand for precious metals.
IRA is a self-directed and regulated retirement account. IRA investment can be made in gold, silver, platinum, and palladium.
All these precious metals are high in demand although you can’t just invest in any sort of gold, silver, platinum, or palladium.
The purity of these metals must be 99.5% to invest in any of them. Gold and silver are the first choices of investors which makes their demand high; however, palladium is making its way up in the global market of precious metals.
Palladium
Palladium is one of the most precious metals in the world. It is often compared and confused with platinum. Palladium has the lowest investor demand even though it has been outperforming other precious metals.
This rare piece of metal is mostly found in Russia and South Africa. It’s a multipurpose metal and it has several uses on the industrial side.
The automotive industry has the highest demand for palladium because it is the most important element in producing a catalytic converter.
Owing to the high demand for palladium, there has been a significant increase in the price of palladium in the global market of precious metals.
Benefits of investing in Palladium
Palladium’s demand is extensively increasing owing to its immense growth in the automotive industry.
Palladium plays the most important role in producing and manufacturing a catalytic converter—a key component in eliminating pollutants from cars.
Since there is a shortage of supply, only two countries are producing the major chunk of palladium and it’s prices will likely skyrocket due to a constant increase in the demand.
Just like other precious metals, Palladium has an inflation hedge. This means it is also priced in U.S. Dollars, and just like other precious metals, it has an inverse relation with the U.S. Dollar.
Get in touch with Orion Metal Exchange now to get your hands on the least popular yet one of the most important precious metals. Get in touch with us to invest in the upcoming precious metal now.
