Palladium is a gray-white precious metal that is used in the chemical industry as an effective catalyst in many organic syntheses
Palladium price is quoted in U.S. dollars per troy ounce, where one ounce represents 31.1 grams of the metal..
Together with platinum is used in automobile industry, serving disposal of undesirable substances from the exhaust gases. The application also found in jewelery during the production of white gold, as part of the alloy.
The largest supplier of palladium to the global market is Russia, due to the Siberia located resources. Russia has 40% share of world production, while other significant producers are South Africa, USA and Canada.
Rule of thumb
As with most industrial commodities, palladium market is depended on both the volume of production as well as the demand from the sector, reflecting the general economic climate