Platinum Group Metals (PGMs) trade with a positive tone at the beginning of Monday, according to FXStreet data. Palladium (XPD) changes hands at $935.53 a troy ounce, with the XPD/USD pair advancing from its previous close at $918.14. In the meantime, Platinum (XPT) trades at $955.82 against the United States Dollar (USD) early in the European session, also up after the XPT/USD pair settled at $946.92 at the previous close.
Palladium FAQs
Why do people buy Palladium?
Palladium is a rare and valuable precious metal with strong industrial demand, particularly in the automotive sector. It is widely used in catalytic converters to reduce vehicle emissions, making it essential for global environmental regulations. Investors also see palladium as a store of value, similar to gold and silver, and a potential hedge against inflation. Given its supply constraints and high demand, palladium often attracts traders looking for price volatility and profit opportunities.
