We’ve been asked the question, Why is palladium more valuable than gold by Mick Parker of Queensland, Australia. We answer this question and more on AE Answers.
Palladium has seen a huge increase in demand for the first few weeks of 2020, with an ounce of palladium valued at around £1922.
At the moment, the demand for palladium outstrips the supply and the amount of palladium produced is to be below global demand for the eighth year in a row.
Tightening regulations means that more car firm are using Palladium within their cataltic converters, which is primarily used in Petrol cars as Diesel cars use platinum.
Palladium is a lustrous white metal belonging to the platinum group of metals. It is known that 85% of palladiumis used in exhause systems in cars where it turns toxic pollutants into less-harmful carbon dioxide and water vapor.
The tow main countries for minin Palladium is South Africa and Russia, and is gug up at the same time as platinum. MMC Norilsk Nickel PJSC of Russia is the larges palladium producer.
Electric cars do not burn fossil fuels and therefire, do not have to release exhaust gases. This means that they don’t use palladium.
However, palladium is used in the majority of Hybrid cars and many analysts believe that this will continue as full stream electric vehicles is still many years off.
London’s Metropolitan Police havesaid that the number of catalytic converter thefts in the 1t 6 months of 2019 was up by more than 70% which is higher than 2018.
Criminals steal the catalytic converters to cash in the Palladium (or Platinum) used within these emission reducing car parts.
