Have Sanctions on Russia Impacted Global Palladium Prices?

Have Sanctions on Russia Impacted Global Palladium Prices?

If you’ve been following the price of palladium, you probably already know that this precious metal has enjoyed increased value in recent years. Due to recent global events, the price is expected to remain high for the foreseeable future. If you own items made of palladium that you are interested in selling, you’ll want to know more about why the price is currently higher than usual.

What Contains Palladium?

While you are probably already familiar with other precious metals, such as gold, silver and platinum, you may not have ever heard of palladium, even though it is used in many everyday objects that you probably know well. For example, some of the things that contain palladium include:

  • Jewelry
  • Automobiles
  • Dental Restoration Work
  • Electronics
  • Coins

This list contains familiar objects, but some are more obviously valuable than others. So, what kinds of palladium are worth selling?

Ways to Sell Palladium

If you own jewelry or coins that contain palladium, they will be easy to sell for a high price. Part of the reason for this is that these items may also contain other precious metals that are valuable. However, the main reason is that these items are easy to process into a pure form that can be re-sold, at least easier than complicated goods such as electronics.

That said, the price of palladium is currently so high that many people are taking advantage of its value, even in items that are more difficult to process. In fact, palladium is currently more valuable than gold.

Dental Scrap

You might not realize it but you can sell dental scrap in Toronto at a business specializing in separating precious metals and refining them into a pure form suitable for resale. Since dental scrap often contains palladium, and other precious metals, it is highly valuable. As with all precious metals, the more of the material you possess, the more it is worth.

Catalytic Converters

The reason that catalytic converters contain palladium is that it is the metal that is used as a catalyst to remove toxic materials from the exhaust of vehicles. One of the main reasons why the cost of palladium is so high is that more countries around the world are enforcing lower emissions regulations that require catalytic converters.

How Sanctions on Russia Impact the Market

Russia is one of the largest manufacturers of palladium in the world. If the majority of other countries refuse to allow Russia to participate in many sectors of global trade, it could mean that less palladium is able to enter the global market, making this precious metal even rarer than usual.

Since the market value of most precious metals is impacted by supply and demand, such sanctions will cause the price of palladium to remain exceptionally high.

If you are a dentist interested in selling your dental scrap, or you own any other form of palladium that you are interested in selling, now is a good time to do so. While sanctions on Russia may be currently influencing higher prices, it is unpredictable when this situation will change. Talk to a company that buys dental scrap today.

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