Palladium is a small, concentrated, industrial market. Only about seven million ounces come out of the ground each year. Roughly 80 percent of that volume goes to a single use — catalytic converters for gasoline engines. Supply is concentrated in two countries: Russia at roughly 40 percent and South Africa at roughly 35 percent. When auto-sales data shifts or a sanctions headline lands, the price can move 5 to 10 percent in one trading day.

The motion runs hard in both directions. In 2018, palladium sat at $500 an ounce. By 2021, it hit $3,000. Then it fell back toward $1,000. That is the kind of ride palladium delivers — and it’s a feature, not a bug, of a tight industrial market. Today palladium spot trades near $1,050.

If wealth preservation is the goal, build a gold foundation first. Palladium is for those who already hold gold and silver.

That difference matters. Gold serves a preservation role with a five-thousand-year record. Palladium serves a factory floor. Electric vehicles, which skip catalytic converters altogether, represent the largest structural risk to the main palladium demand line. The long view has to weigh that risk honestly before placing capital.

Platinum and palladium are close cousins in the chemistry lab, and both serve catalytic converters — but in different engines. Palladium goes into gasoline vehicles. Platinum goes into diesel. The choice between them depends on which powertrain you believe holds its ground through the EV transition.

Yearly supply is similar: about 6 million ounces of platinum against 7 million of palladium. Both meet the IRS .9995 purity floor for retirement accounts. The swings are sharper on palladium — 50-percent drawdowns are part of the record — because the use case is narrower. Platinum has fuel-cell demand in the wings; palladium doesn’t.

Most long-view positions treat palladium as a supply-squeeze wager, and platinum as the broader industrial play with a longer horizon. Neither carries gold’s monetary history. Neither should serve as the foundation of a precious metals position.

Palladium product options are narrow. The Canadian Palladium Maple Leaf from the Royal Canadian Mint is the only major sovereign palladium coin struck on a steady basis: .9995 fine, one troy ounce, recognized worldwide, liquid on resale. There is no sovereign palladium coin from the U.S. Mint with equivalent standing.

Palladium bars from PAMP Suisse, Valcambi, and other LBMA-approved refiners come in 1-ounce and 10-ounce sizes. The 10-ounce bar cuts the per-ounce outlay the most. Coins carry higher premiums but sell faster. Bars cost less per ounce but take longer to move. Availability shifts with the market — speak with us to confirm current stock.

Palladium qualifies for a self-directed IRA at .9995 purity under IRC Section 408(m)(3)(B). The metal is stored at an IRS-approved depository — not at home. The Canadian Maple Leaf and LBMA-approved bars both clear the bar. Most self-directed custodians we work with handle palladium as a standard holding inside a precious metals IRA, with the same rollover mechanics as gold and silver. See the palladium IRA guide for the full account sheet.