While nearly 50% of all silver produced is devoted to industrial uses, palladium is heavily relied upon in industrial production as well. The auto industry relies upon the white precious metal as a vital component used in catalytic converters, which perform the important task of controlling noxious emissions from cars and trucks. As we move toward an increasingly green planet with an emphasis on protecting the environment, the demand for palladium in catalytic converters will only grow as time passes. Palladium is also a key component of hi tech products such as disk drives, electrodes, batteries and LCD monitors, all of which are staples used on a daily basis in our expanding era of computer and technology usage.
Global demand for palladium in the automobile industry has risen 5% so far this year and the demand for palladium is rising in the energy field as well, particularly in natural gas and shale oil exploration, with palladium acting as a vital element in petrochemical plants in the processing of shale gas. With a harsh winter expected for 2014 and natural gas investment on the rise, there is every reason to believe that palladium will continue to shine as one of the least well known, yet most profitable of the precious metals. Investors looking to buy rare coins and bullion would do well to consider diversifying into palladium, one of the true unsung heroes of the precious metals complex.
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