Palladium has no monetary history. It wasn't used as currency. It's not a store of value in the traditional sense. It's a pure industrial play—and it trades like one.
With ~80% of demand coming from automotive catalytic converters, this metal moves with the auto cycle. It is a bet on industrial demand and geopolitical supply constraints.
Market Dynamics
Key Drivers
Automotive Dominance
80% of global demand is for emissions control. Not diversified.
Russia Supply Risk
Russia controls ~40% of global mine supply. Sanctions directly impact price.
Extreme Volatility
Price has swung from $500 to $3,000 and back to $1,000 within 5 years.
By The Numbers
*Price moves sharply on news of production quotas or auto sales data.
This Is Not Wealth Preservation
Palladium is speculation. It doesn't have gold's 5,000-year track record. It depends entirely on industrial consumption, which could be threatened by the shift to Electric Vehicles (which don't use catalytic converters).
If you want wealth preservation, buy Gold. If you want speculative industrial exposure, buy Palladium.
It Might Make Sense If:
- You already own significant gold/silver.
- You have a thesis on Russian supply constraints.
- You can stomach 50% drawdowns.
Avoid If:
- XYou are looking for a safe haven.
- XVolatility keeps you up at night.
- XYou rely on this capital in the short term.
Palladium Products
Canadian Palladium Maple Leaf
The only sovereign palladium coin in regular production. .9995 fine.
Palladium Bars
1oz and 10oz bars from major refiners like PAMP or Valcambi.
Still Interested?
We can discuss whether palladium fits your investment strategy and source the products you need.