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Investing in Palladium: A Guide for Beginners in 2023

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As investors exit the stock and crypto market, they are exploring new metals to put their money into. One metal on top of a lot of people’s lists is Palladium. The silvery-white and lustrous metal was discovered in the 18th century by Sir William Hyde Wollaston and since then it has become one of the most important precious metals.

It’s very rare and mined in only a handful of countries such as South Africa and Russia. If you are considering investing in palladium, then this guide is perfect for you. In this post, learn about one of the rarest metals in the world so you can have a successful investment experience. 

Uses of Palladium

Palladium has several unique properties which are why it’s used in a diverse range of uses and industries. It’s a member of the platinum family of metals which is why whenever there is a shortage of platinum or it becomes more expensive, companies switch to palladium.

Palladium is used primarily in the automotive industry and is used to make catalytic converters that help automakers reduce harmful emissions from automobiles. People looking to invest in the metal can look at the demand for cars to forecast the future price.

The also has have been used in fuel cells, which are powering renewable energy and helping make the world a cleaner place. It’s also used in the dental industry as well as in luxury jewelry and watches. Its immaculate beauty helps make it a perfect choice for engagement and wedding rings. Jewelry and watches enjoy high demand in the higher economic classes of the world in diverse regions spanning Europe, America, China, the Middle East, and India.

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Why Invest in Palladium

Palladium is a great investment because it is a rare metal with solid demand and supply fundamentals. The price of palladium is also higher because it is rarer than gold. This is why a growing number of investors are including it in their portfolios and consider it a haven investment during times of economic uncertainty. The price of the metal skyrocketed when Russia invaded Ukraine as the world put sanctions on the country which affected the supply of the metal to the markets.

Investors that include it in their portfolios can hedge against inflation, as its prices tend to rise when the economy is doing badly. This helps protect a person’s purchasing power and helps to achieve the person’s financial goals.

Ways to Invest in Palladium

Physical Bullion Bars

When it comes to investing in precious metals such as palladium, one of the best ways is to invest in palladium bullion bars. They are usually of 99.5 purity and can range from 1-100 grams. 

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Coins

If you are into collecting coins as a hobby, then palladium coins will be a great addition. Not only will your collection look amazing, but you can also end up making a good profit as the metal appreciates. Private precious metals ira companies and governments have palladium coins in circulation for people to buy.

Exchange-Traded Funds

If you don’t want to look after the storage of palladium, then you can invest in a precious metals exchange-traded fund. These funds track the price of the metal however there is an ever-lurking threat of counter-party risk involved. This is why you must only work with a reputable exchange.

Palladium Precious Metals IRA

If you want to invest for retirement, then you can invest in a precious metals IRA account that has palladium in it among other assets. This will help you take advantage of tax benefits that come with IRAs and help grow your nest egg more effectively.

A person planning for retirement by looking for a precious metals dealer.

What to Look for in a Metals Exchange?

When it comes to making your first investment in palladium, you must choose a reputable and reliable precious metals exchange professional that can guide you along the way. Do your due diligence by seeing factors such as their experience and customer service. Read their reviews to get an idea about them. 

Ask them about the security protocols they have in place as you don’t want to work with an exchange where your sensitive data gets leaked and you become a target for criminals. See if the exchange has a free buy-back policy as this will help improve the liquidity for you. Moreover, check out the fees charged so you don’t end up over paying for different transactions. By taking the time to research you will improve your experience as well boost the odds of success.

A person planning for retirement by looking for a precious metals dealer.

Select an Affordable Gold and Silver Investment Company

Want to invest in precious metals such as palladium in 2023? At Orion Metal Exchange, we help investors have a great experience with our affordable services. We have helped countless people to get started and protect their wealth with metals such as gold and palladium. Thanks to the trust of our customers, we have a 4.9 Trustpilot rating and are also accredited with BBB. 

We only deliver the highest quality gold, silver, palladium, platinum bullion, and coins to our customers. Moreover, we have no buyback fees which helps improve the liquidity and experience for our customers. We have a wide array of commercial depositories that we deliver to so you don’t have to go through any hassles. Our team guides you on all kinds of precious metal storage options and can help recommend storage safes for your home. 

If you have any questions, reach out to the leading precious metals exchange in the country today.

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