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Why has this metal become more valuable than gold?

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The price of an ounce of palladium for the week exceeded $ 1400, while platinum fell below $ 800 and the price of gold above $ 1,300.

Palladium is a platinum family of minerals, and jewelry experts consider it an alternative to gold or platinum, especially since it has characteristics that make it very valuable in the automotive industry.

More than 80 percent of palladium is used as a catalyst in automobile exhaust purifiers, installed between motor and reflective isolators in cars.

Palladium has the potential to convert up to 90 per cent of hydrocarbons, carbon monoxide and nitrogen dioxide from cars into less hazardous nitrogen, carbon dioxide and water vapor.

While China and developing countries have imposed strict limits on fumes, particularly diesel cars, demand for palladium has become more than ever before, raising prices on world markets.

The second reason for the increase in the value of palladium is due to the fact that its deposits are rare, although there are major mineral mines in Russia, South Africa, Ontario and Montana.

The world's total palladium is estimated at around 110,000 tonnes of platinum, including nearly 70,000 tonnes in South Africa.

This means that palladium recycling is an important source of metal production. Around 121 tonnes of platinum, palladium and rhodium were extracted worldwide from scrap in 2017.

The Toyota Prius, for example, has about 2 grams of palladium, valued at $ 450 in the scrap market.

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The price of an ounce of palladium for the week exceeded $ 1400, while platinum fell below $ 800 and the price of gold above $ 1,300.

Palladium is a platinum family of minerals, and jewelry experts consider it an alternative to gold or platinum, especially since it has characteristics that make it very valuable in the automotive industry.

More than 80 percent of palladium is used as a catalyst in automobile exhaust purifiers, installed between motor and reflective isolators in cars.

Palladium has the potential to convert up to 90 per cent of hydrocarbons, carbon monoxide and nitrogen dioxide from cars into less hazardous nitrogen, carbon dioxide and water vapor.

While China and developing countries have imposed strict limits on fumes, particularly diesel cars, demand for palladium has become more than ever before, raising prices on world markets.

The second reason for the increase in the value of palladium is due to the fact that its deposits are rare, although there are major mineral mines in Russia, South Africa, Ontario and Montana.

The world's total palladium is estimated at around 110,000 tonnes of platinum, including nearly 70,000 tonnes in South Africa.

This means that palladium recycling is an important source of metal production. Around 121 tonnes of platinum, palladium and rhodium were extracted worldwide from scrap in 2017.

The Toyota Prius, for example, has about 2 grams of palladium, valued at $ 450 in the scrap market.

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