XPDUSD ( vs US Dollar). Exchange rate and online charts

Palladium

Palladium is a white precious metal resistant to corrosion and included in the platinum metals group. It is one of the rarest metals on our planet. Palladium is also one of the noble metals.

Russia accounts for almost half of global palladium production, whereas the second part of the world's palladium is dug up by Southern African miners. The price of this precious metal is highly volatile because the palladium market directly depends on production in both countries.

History of discovery

A new noble metal was discovered in the summer of 1802 by William Hyde Wollaston. Palladium is named after the asteroid Pallas that was discovered two months earlier. Then, palladium chloride was prescribed as a treatment for tuberculosis.

How to trade palladium

There are several ways to invest in palladium:

1. To buy the metal. The price of a bullion will include a broker’s commission that will make it higher.
2. To trade futures or options. Before opening positions on these trading instruments, traders should learn how to work with them.
3. To invest in stocks, mutual investment funds, and exchange traded funds (ETF).

Changes in palladium price in last 10 years

Production of palladium is a bit limited and this, in turn, affects its price. During the last 10 years, the metal’s price has been rising. In February 2020, palladium hit its peak, exceeding $2,500. Later, the metal began losing in value amid the coronavirus pandemic. By now, it has recovered as supply slumped in both Russia and South Africa.