Wednesday, July 16, 2014

Palladium Hits a 13 Year High


 


Bummer…palladium is getting expensive. I remember back in the day as gold was hitting all-time highs, even surpassing platinum, palladium was still relatively inexpensive. This lower price allowed jewelry makers to duplicate a similar look and feel to gold or platinum while still maintaining the resiliency of the other metals. Basically, you got something sturdy and looked like white gold or platinum for a much lower cost.

 

Amethyst earrings with palladium, please call for pricing
 
 
While the price of palladium is still low in relation to metals such as platinum, palladium is trading at $879.90 per troy ounce as opposed to platinum which is trading at $1499 per ounce; this increase has made palladium much more expensive than in years past. I checked some historical charts and palladium was trading somewhere around $135 per ounce on average in July of 1996. As you can see, it was defiantly cheaper a few decades ago.

 

 
 
The price has probably gone up as the jewelry market and investor look to other alternative metals. Let’s face it, when gold and platinum is trading at such historic highs it doesn’t make it real attractive as an investment. I personally know nothing about stocks but I know you don’t buy something at its peak. These price increases have unfortunately driven up the price of palladium jewelry.

 

Blue topaz cabriole and palladium earrings, please call for pricing
 
This is an unfortunate turn of events as I generally would turn to palladium as a less expensive alternative metal. It allowed me to acquire larger gemstone pieces without the high cost of platinum or white gold. Currently, it seems that sterling silver is the only affordable alternative metal on the market. Let’s keep our fingers crossed that the price isn’t driven up.
 
Gemstone and palladium bracelet, please call for pricing

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