Platinum and Palladium: The Precious Metals You're Probably Ignoring

Platinum

Rarer than gold. Annual production roughly 5-6 million troy ounces vs 100+ million for gold. Over 70% from South Africa, roughly 10% from Russia. Currently trades at significant discount to gold despite historically trading at premium.

Headwind: shift away from diesel catalytic converters. Tailwind: hydrogen fuel cells use platinum as catalyst — if hydrogen vehicles scale, demand could offset diesel's decline significantly.

How to buy: 1oz Platinum Maple Leaf and 1oz American Platinum Eagle most liquid options via SilverGoldBull.

Palladium

Most industrial of four precious metals. Roughly 80% of demand from catalytic converters for gasoline and hybrid engines. Extraordinary price history: under $500/oz in 2016 to over $3,000 in 2022. Long-term headwind from EV transition. Supply heavily concentrated — Russia 40%, South Africa 40%. Geopolitical events cause immediate price spikes. Available via SilverGoldBull, lower liquidity than gold/silver, wider bid-ask spreads.

Should You Own Either

Higher-risk, higher-volatility than gold or silver. Appropriate as small satellite position 1-3% of precious metals allocation for investors who understand industrial demand dynamics. Gold and silver come first — platinum and palladium are the next step.

Related: silver in 2026, portfolio allocation, why physical gold.