Historically, Palladium reached an all time high of 3440.76 in March of 2022.
According to the latest long-term forecast, Palladium price will hit $1,500 by the end of 2023 and then $2,000 by the middle of 2025. Palladium will rise to $2,500 within the year of 2027, $3,000 in 2028, $3,500 in 2029, $4,000 in 2030 and $5,000 in 2033.
Palladium Market to Reach Valuation of USD 24 Billion by 2030 – Growth in the Investment Prospects Drives the Market. In terms of revenue, the Global Palladium Market is expected to reach by 2030, growing at a CAGR (Compound Annual Growth Rate) of 5.5% from 2023 to 2030.
Palladium is expected to be a profitable investment in 2023 due to a combination of macroeconomic and fundamental drivers.
Palladium is expected to trade at 1375.32 USD/t oz. by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1236.23 in 12 months time.
Is Palladium a Good Long-Term Investment? The future outlook of palladium's value is promising. The metal is expected to remain in scarce supply especially as Russia, one of the metal's largest exporters, remains ostracized from international trade.
On February 10th, Nornickel announced that it expects its palladium production to drop in 2023 due to planned refurbishment at its Nadezhda metallurgical plant. A report by Reuters said that the company's palladium output is likely to fall by 8%-14% than in 2022 in the range of 2,407-2,562 koz.
One of the most popular choices for wealth preservation in uncertain times for hundreds if not thousands of years is precious metals, with gold being the go-to option for many investors. However, silver and platinum are also gaining traction as viable safe haven investment alternatives.
Gold, silver, platinum, Palladium, and copper are great for starting your best investment in 2023.
Is gold the best precious metal to invest in for 2023? The best-known of the precious metals, gold is considered by many to be an excellent asset to add to an investment portfolio. Gold is a key material for jewelry, and is also used as a store of wealth by investors around the world.
He says substitution from palladium to platinum and a rise in battery-powered vehicles contributed to palladium's steeper decline. Platinum also has been helped by growing demand from heavy-duty trucks and buses as emissions standards in Asian markets tighten, says Kavalis.
In 2022, the global supply of palladium was forecast to be 7.12 million ounces. In 2021, the total supply of palladium amounted to seven million ounces worldwide.
That is now changing. Electric vehicles (EVs) that do not need palladium are gaining market share and automakers are substituting some palladium for cheaper platinum in combustion engine vehicles. Meanwhile, supply from recycled cars is rising as those containing more palladium reach the end of the road.
The rarity of palladium and platinum may ensure an upward trend in pricing in the future. However, since palladium is 15 times rarer than platinum, it is a higher-quality option despite the expected price decline in the coming years.
Relatively hard: Palladium is considered to be a softer metal, but it is still much harder and more durable than gold, which lends more protection against impact and a greater resistance to denting. Compared to gold's knoop hardness of 200, Palladium has a knoop hardness of 400.
In 2021, China accounted for the largest consumption share of palladium worldwide, at 26 percent of global consumption. North America was the second largest consumer of palladium that year.
RHODIUM: TOP MOST VALUABLE METAL
Rhodium is the most valuable metal and exists within the platinum group of metals. It is used in jewelry for a final finish on white gold jewelry. It occurs in the very same ore in which gold and silver exist – only, in smaller quantities.
The explanation for Buffett's dislike of gold and for his enthusiasm about silver stems from his basic value investing principles. Warren Buffett has been very vocal about his disdain for gold as an investment. He sees little to no value in it.
In the post, he echoed the statements of Andy Schectman, president of precious metals investment firm Miles Franklin, sharing, “Andy Scheckman says: 'Silver is the most undervalued asset of a generation.
Some investors may want to prioritize stability and long-term investing. In that case, gold is likely the better option. The precious metal has a longstanding history of reliable demand which often spikes during economic downturns. On the other hand, platinum usually performs better during times of economic growth.
Fitch Ratings-London-05 October 2022: The energy transition will significantly increase demand for metals used in manufacturing of electric vehicles (EVs) and renewable power generation facilities, such as copper, nickel, cobalt and lithium, Fitch Ratings says.
The metal is more expensive than gold, and molecules that contain palladium can also be extremely toxic to humans and wildlife. Chemical manufacturers have to separate out all traces of palladium from their products and carefully dispose of the hazardous waste, which adds extra expense.
Industrial Uses Abound
Palladium is often purchased because of its widespread use in various industries. For instance, it's widely used in the dental industry for fillings and other items. It's also a popular option for jewelry.
"After a decade of tailwinds, palladium will be buffeted by strengthening headwinds this year," says Swarts at Metals Focus, predicting an annual price of $1810 across 2023 as a whole and so matching the consensus palladium prediction from the 21 analysts in the LBMA's Survey almost exactly.