Palladium (traded by the symbol PALL) has risen to be the latest and brightest star for both precious metal and commodity traders. Over the last three years, it’s tripled its price to its all-time highest price, even exceeding gold prices at a seven year high. During the last three years, no commonly traded precious metal or commodity has had this kind of movement and trading potential in either a bullish (upward) or bearish (downward) direction.
This lustrous white metal is a key component in catalytic converters for automobile exhausts and its supply hasn’t been able to keep up with demand. Approximately 85% of palladium is used in car exhausts but also palladium is used in smaller quantities in electronics, jewelry, collectable coins and dentistry.
One reason for a current palladium shortage is that palladium isn’t mined for directly but rather is sourced as a byproduct of mining for other metals like nickel and platinum which means suppliers cannot as quickly adjust to price changes.
Jubilee Metals Group plc (LON:JLP) is a diversified metals recovery company, they secured surface platinum-bearing tailings to recover PGMs and chromite, lead, zinc and vanadium bearing tailings in Zambia and holds the mining right to a primary PGM project in the Eastern Bushveld complex.
