Why the price of palladium is skyrocketing!
Most of our customers don’t check the prices of metals every day, but it’s constantly on our minds. We want to offer our customers the BEST price available when we craft our rings.
That’s why our quotes are good for one week only. Sometimes, the metal price doesn’t change from week to week. On other occasions, the change can be dramatic. Just like
current events change the stock market, they can also change the metals market.
Palladium is a metal that is primarily used for automatic catalytic converters for gasoline-powered vehicles. The price is driven by supply and demand. With the market focused on
building electric cars, the demand for palladium is predicted to go down. There is a limited opportunity for additional growth. In addition, Russia is the largest producer of palladium.
Based on current events, Russia could restrict the supply of palladium to the US limiting the availability of the metal and increase the price.
Consequently, platinum is currently a much better value for customers. We always recommend that our customers buy the best possible metal that fits their budget. Once the wedding is
over… the flowers, cake, and decorations are gone…but your rings are forever!