Palladium Trading Basics
Palladium (XPD/USD) is a precious metal that belongs to the Platinum group. Traditionally used in jewelry as well as in various industrial applications, it always maintained a healthy demand. Palladium is quoted in U.S. Dollars per troy ounce and an international lot size consists of 100 troy ounces.
As many of palladium’s applications parallel that of platinum it is often used as a lower cost alternative to its more famous sibling.
Like platinum, it is used in pollution control, chemical processing and in electronics. Unlike platinum, its use in jewelry is mainly as a hardening agent in platinum alloy or making white gold. Pure palladium is seldom seen in jewelry, despite efforts to promote the metal as a viable alternative to platinum. Unlike platinum, it may discolor upon heating to above 400 °C (752 °F), it is relatively brittle and reacts with strong acids such as nitric acid.
History of Palladium
William Hyde Wollaston noted the discovery of a new noble metal in July 1802 in his lab-book and named it palladium in August of the same year. It was named after the asteroid Pallas, which had been discovered two months earlier. Palladium chloride was at one time prescribed as a tuberculosis treatment.
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