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If you’ve grown up believing that gold is the rarest—and hence, the most valuable—metal, you’re in for a surprise.

Palladium is 30 times rarer!

Owing to its rarity, this precious metal is ranked among the world’s priciest treasures. Even though the price of gold has traditionally kept palladium under its thumb, the latter surpassed it in August 2018. This is the first time this has happened since 2001!

Gold is close at its heels, however, with a price of $1,300 per ounce compared to Palladium’s $1,400 per ounce.  

Hailing from the same family of metals as platinum, it’s deemed much more valuable than it.

Here’s why palladium is now more valuable than gold.

Uses In the Automobile Industry

Palladium is hugely versatile and useful for industrial purposes because of its catalytic properties.

In fact, more than 80% of palladium produce is utilized for the manufacturing of catalytic converters. These statistics are confirmed by reports by the New York Times.

Devices made of palladium are installed between the engine and the tailpipe. They enhance the efficiency of the automobile by converting 90% of toxic emissions into less harmful water vapor, carbon dioxide, and nitrogen.

This leads to a sizable reduction in hydrocarbon, nitrogen dioxide and carbon monoxide emissions. With diesel-run cars petering out of existence, environmentally-friendly options are becoming more popular. This is boosting the value of palladium in the industry, compared to gold.

Rarity of the Metal

The forces of supply and demand have a fundamental role to play in determining the price of precious metals. The supply of palladium, globally, is very limited.

Some major palladium mines are found in Ontario, Russia, South Africa, and Montana. An estimated 110,000 tons of metal from the platinum family are reserved at different locations around the globe.

This is why the rarity of palladium is a crucial factor in its higher value.

Hike in Crime Rates

A rise in theft and street crimes is probably the best way to determine how valuable something is perceived to be.

The Wall Street Journal reported that there was a sudden increase in incidents of catalytic converter thefts. Since they can be sold off at a metal scrapyard for an easy $450, criminals are tempted to steal them.

If this is the value of two grams of harvestable palladium, you can only imagine how precious a greater quantity is.

If you want to invest in this precious metal in a safe way, we can help you!

We offer secure precious metals storage investments and we can help you invest in palladium through a secure investment plan. Your trust is our responsibility, as is your investment! 

Call us and learn more.