This article discussed the advantages of buying palladium, however if you are simply looking for the best place to buy palladium then we recommend GOLDMONEY.
GoldMoney are world leaders when it comes to purchasing all precious metals and they store the physical palladium in their highly secure vaults across the world.
There has been a lot of buzz in the precious metals markets over the past 12 months, and 2011 is already continuing on the trend. Gold and silver have been performing very well and many choose them as a hedge against inflation, however they are not the only option, as Palladium is also an option.
Palladium is used in car manufacturing, for the catalytic converters (about 67% is used for this) and growing economies such as China and India are demanding more and more cars. Palladium is also used in TV screens, cell phones, and of course most commonly know for it’s use in jewelry.
So the demand for Palladium is increasing, however the supply is not. Russia has about 2/3 of all the Paladium in the world, and they have been pulling back on the supply which is pushing the price up.
Therefore as China and India buys more cars, the demand for Palladium, and more and more people in rural areas in these countries are moving into cities and looking to buy cars, which will furthe increase demand and push the price of Palladium up. China have also been pursuing a very agrressive infrastruction advancement by building a huge amount more roads in major centres to manage the increase in cars.
In 2009 the price of Palladium was around $200 an oz, and now it is at $700, which is large gains, and if things continue in this vain then there will be even bigger gains to come. The all time high of Palladium is over $1000 too, so there is no reason we can’t see prices this high again.
Another intersting argument for buying palladium is that it is primarily used in petrol cars, which burns cleaner than deisel, and with a lot of talk at the moment for reducing CO2 emmissions, whether you believe this to be true or not, my personal opinion is that this is a giant fraud, nonetheless, some investors think car companies will move towards palladium more to use in manufacturing which will push demand up.
I think precious metals are a good choice right now, gold and silver are very popular, and I also include these in my portfolio more heavily, however added palladium in is not a bad move in my opinion.