Not everything is worth gold, says the old saying. And the absolute truth is, yellow metal is not the most sought after on the planet as many think. The other is more silver-like and more environmentally friendly. Do you know what that is? We answer the question here.
A metal worth more than gold is palladium. Currently, this element is worth more on the world market every day, and this 2019 its price has increased 40%, which is far from the limit. Its price today already exceeds $ 1800 an ounce compared to $ 1500 an ounce of gold. His price is projected to exceed $ 2,000 by the end of 2019, according to Fayer Wayer.
Let's go to the old periodic table This is what Palladium says: It is a chemical element of atomic number 46 located in group 10 of the periodic table of elements. Its symbol is Pd. It is a transition metal platinum group, soft, ductile, oblique and not very rich. It is chemically similar to platinum and is extracted from some copper and nickel mines.
But what is its use and why is it related to the environment? Palladium is used in the production of gas catalytic converters for gasoline engines, and as more countries pay more attention to the environment, demand for the metal continues to grow day by day, says Ole Hansen, Head of Saxo Bank's Markets Strategy at Sputnik .
"There can be no maximum price for palladium as such until we reach a level where it is more appropriate to use other metals, such as platinum, or until a slowdown in the global economy leads to a decrease in demand for new cars," expert Hansen adds.
Its silver color and its flaw caused palladium to be considered a precious metal since ancient times, but what makes it so highly prized beyond its looks are its properties.
And that is that when it comes into contact with air it does not oxidize, it is soft and oblique, it is a metal of less dense platinum group and with the lowest melting point and, much more surprisingly, it can absorb amounts of enormous molecular hydrogen (H2) at room temperature.
It is this latter property that largely places it as an ideal candidate for use in vehicle catalytic converters, as it can absorb up to 900 times its own volume in molecular hydrogen.
It has a role in electronics
Similarly, the application of palladium goes beyond its use as a central element in the catalytic converters of the latest generations of vehicles.
In consumer electronics, it is also an element that is highly regarded for its versatility. This industry has given it several uses, but one of the most important is its use, usually in silver alloy, in the electrodes of multilayer ceramic capacitors. A capacitor is an electrical component that can store potential energy in the form of an electric field.
Palladium is also often used, usually in nickel alloy, as a coating of contact areas between electrical components. Another application of this chemical element is welding plates, especially those used in jewelry, for their robustness, strength and durability.