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Sell Palladium

Sell Palladium

Some people ask when is the best time to sell palladium. Palladium is the one precious metal that has only joined the bull market in precious metals and although gold, silver and platinum have been wining their way upward palladium has remained steady currently keeping pace with the price of platinum so has had a steady rise over the past year or so.

However palladium is slowly becoming more popular as a metal for jewelery being much favored by jewelers as it is very easy to work and not as expensive as platinum. In addition many people see a potential delayed growth of interest in the metal which is likely to draw it upward into the same vertically velocity being favored by the other precious metals.

This would indicate that this is not a time to sell palladium but, rather, a time to buy. The current price of palladium has not changed much over recent years apart from the Russian debacle. Russia caused a supply shock by declaring that it would not sell palladium in the following year. This announcement caused prices to spike and palladium peaked in early 2001 at $1,050/ounce. The Ford Motor company, who had stock piled palladium at 1500 dollars an ounce later sold off a heap of palladium at 400 dollars an ounce. Other than that little skirmish the price has moved very little.

It is easy to accumulate palladium. One can buy bullion in the form of bars as well as coins. Many of the mints these days produce palladium coins and one only needs to ensure that any bullion one buys is pure palladium and to ensure the quality is not degraded by handling them but keeping any palladium in the containers it comes it.

Given a few years it seems quite possible that one can do very well by simply accumulating and storing palladium and to sell palladium at this stage would not be recommended.

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