Calculating Historical Palladium Price
Palladium, one of the rarest precious metals, was first discovered in 1802 by William Hyde Wollaston, a noted English chemist and physicist who also discovered rhodium. Palladium is one of six elements that belong to the platinum group metals (PGMs) and it is the element that gives white gold its colour. Today approximately 80% of the world’s palladium comes from South Africa and Russia, the largest producer. Because it is very similar to platinum, the majority of palladium is used in the production of catalytic converters; it is also used to produce jewellery, watches, investment products, musical instruments, surgical instruments and electrical components.
Because palladium is one of the most important precious metals – alongside gold, silver and platinum – it is a very popular investment opportunity. Although the price of palladium has on occasions dipped sharply, its price has consistently increased over the last 40-plus years. In 1977 you could have purchased an ounce of palladium for approximately $40.00; in 2017 it would have cost you $1000.00 – within 40 years a $10,000.00 investment would have been worth $250,000.00. In 1996 you could have purchased an ounce of palladium for $120.00; in 2001 the price hit $1,100.00 – within five years a $10,000.00 investment would have been worth more than $90,000.00.
If you are interested in investing in precious metals, palladium should always be considered as it is a very valuable metal. In 1997 you could have purchased palladium at $200.00 per ounce; in less than four years you could have turned a $10,000.00 investment into more than $50,000.00. In 2016 a $10,000.00 investment in palladium at $500.00 per ounce would be worth in 2019 more than $28,000.00. The Buy Gold Bullion Online palladium investment calculator will allow you to see how palladium has performed from 1993 through to the present day; you will be able to see the profits you could have made by investing your money in palladium at different times over the last 50-plus years.