Palladium as investmentGlobal palladium sales were 8.84 million...

Palladium as investment

Global palladium sales were 8.84 million ounces in 2017[83] of which 86% was used in the manufacturing of automotive catalytic converters, followed by industrial, jewelry, and investment usages.[84] Palladium is a chemical element first discovered in 1803, and since the 1980s, its major commercial application has been in the automotive industry.[85] More than 75% of global platinum and 40% of palladium are mined in South Africa. Russia's mining company, Norilsk Nickel, produces another 44% of palladium, with US and Canada-based mines producing most of the rest.[86]The price for palladium reached an all time high of $1,603.00 per ounce on September 16th 2019[87][88] driven mainly on speculation of the catalytic converter demand from the automobile industry. Palladium is traded in the spot market with the code "XPD". When settled in USD, the code is "XPDUSD". A later surplus of the metal was caused by the Russian government selling stockpiles from the Soviet Era, at a rate of about 1.6 to 2 million ounces a year. The amount and status of this stockpile are a state secret.

Source: Wikipedia