Views on palladium

[Longjon]

I recently acquired two palladium rings and I’m in two minds regarding selling them or adding them to my collection and possibly buying more. Palladium is rarer than gold! Upon reading Iv found out  Russia currently produces 40% of the worlds palladium, so recent sanctions have driven the price up a bit, but it has been steadily climbing beforehand. It’s currently £1,637 an ounce. It’s used in modern catalytic converters amongst other things but Iv just read that it’s  used a lot in hydrogen cells, power of the future! So it has the potential to vastly outperform gold and silver. 
  I’d be interested to hear other peoples views on the metal and how you think it will perform. 

[LawrenceChard]

2 hours ago, Longjon said:

I recently acquired two palladium rings and I’m in two minds regarding selling them or adding them to my collection and possibly buying more. Palladium is rarer than gold! Upon reading Iv found out  Russia currently produces 40% of the worlds palladium, so recent sanctions have driven the price up a bit, but it has been steadily climbing beforehand. It’s currently £1,637 an ounce. It’s used in modern catalytic converters amongst other things but Iv just read that it’s  used a lot in hydrogen cells, power of the future! So it has the potential to vastly outperform gold and silver. 
  I’d be interested to hear other peoples views on the metal and how you think it will perform. 

Far better sticking to silver and or platinum IMO, although unless you can buy secondhand, you will be paying 20% VAT, or extra premium in lieu of it.

So unless you are buying enough to make offshore storage worthwhile, you might as well stick to gold, as I advise here:

https://www.chards.co.uk/blog/advice-guide-for-uk-bullion-investors/1041

BTW: Who is Iv?

😎

[Arganto]

For holding physical product as a savings or investment mechanism I would be sceptical. Buying into companies that mine or process palladium or those that create products using it may be a better bet. It's not something I partake in personally but I can see how it may be the way to do it if you have confidence in palladium's future.

People argue over whether or not silver is the same as gold with regards it being a store of value, but traditionally it was and it has a movement behind it. It is still very speculative compared to gold and I personally echo @LawrenceChard's position on this, but I do think silver "will have it's day" as they say. Palladium may make you a good return, but I personally see it the same way I see plutonium, zinc or any other industry linked element; it's a gamble and not the same as using a precious metal as a savings mechanism/store of value.

WTFudge dooo I gnough though!

[Longjon]

All valid points.  I think I would still buy the odd bit if a good 2nd hand deal popped up. I completely agree that paying the VAT on new palladium bars makes no sense, may as well buy gold.