Precious metals have been the star of the show this year. In a crowded field, the ETFS Physical Palladium ETF (NYSEARCA:PALL) still manages to stand out.
In recent days:
- Palladium’s price has gained on fears that Russia, the world’s largest producer, has exhausted its state stockpiles of the precious metal.
- Rhiannon Hoyle for The Wall Street Journal reports that palladium has also been assisted by a weak dollar, which has made the metal more appealing for overseas investors.
Melissa Desroches for International Business Times reports that a host of other, broader factors are helping support the metal’s price, including:
- Automotive demand – palladium is used in catalytic converters.
- Jewelry – palladium is becoming a popular alternative to white gold or silver; it’s lighter, less expensive and requires less care.
- Electronics – palladium has a big role in the production of capacitors and fuel cells.
ETF Securities Physical Palladium is a play on palladium’s spot price, since it holds the physical metal. If you’re looking for an alternative to gold or silver, consider this.
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Tisha Guerrero contributed to this article.