What is Palladium?

If someone says 'palladium', what's the first thing that springs to mind? Those black sneakers that the kids wore in the 1990s? A famous London theatre? Hmm, how about a precious metal?

Palladium is in fact a member of the platinum family, sharing many chemical properties with the favoured silver metal. It's no surprise, then, to learn that palladium is used in jewellery making. It was discovered in 1803 and has been used to make palladium rings, earrings, bracelets and necklaces since about 1939.

Only recently has the public become aware of the tarnish-free metal, however and it is increasing in popularity as a cheaper, but no less precious, alternative to platinum. To put this in perspective, know that palladium is thirty times more rare than gold.

It's worth noting that palladium is considered a good investment these days as it is used in many products while sources are fairly geographically limited. It is mined predominantly in Russia and South Africa, with a few smaller mines in North America.

As to its uses, palladium is being utilised increasing by the automotive industry, particularly in Asia, as a key component in catalytic converters. It is also used extensively within engineering, as it can be transformed into leaf form and is more durable than gold.

Within the medical profession, scientists are beginning to use the precious metal in the treatment of prostate and breast cancer, as it has been discovered palladium is compatible with human tissue. Meanwhile in dentistry, it's being used to make crowns and bridges.

Quite some credentials, you'll surely agree. What makes palladium the ideal metal for jewellery is that it is light but strong and its natural silver/white colouration can 'enhance the beauty of diamonds and gemstones set within it'. It is delicate enough that it can be manipulated into myriad designs which other precious metals cannot easily form, yet is heavy enough to 'convey luxury'.

As one expert points out, palladium is certainly the metal of the moment.