While gold and silver have done very well over the past few months as recession fears continue to grow, it's easy for investors to overlook opportunities in other precious metal markets. The first that comes to my mind is palladium, which in the first quarter of 2019 saw prices jump to $1,560 per ounce before crashing back down to the $1,300 price range shortly after.
While many called this the end of the palladium bubble, the reality is that the precious metal has come back stronger than ever, surpassing the price of gold yet again. Prices have set a new all-time record, climbing above $1,600 per ounce.
Unlike gold and silver, which don't have much industrial demand besides being used in jewelry, palladium's demand also comes from its use as a material in catalytic converters for gasoline engines. With over half of the global palladium demand originating from this key car component, prices are expected to continue to rise as companies pursue more environmentally friendly solutions, both in the automobile sector and elsewhere.
Source Fool.com