Palladium is a precious metal renowned for its rarity, high value, and exceptional catalytic properties. Primarily used in the automotive industry for catalytic converters, which reduce harmful emissions, palladium is also utilized in electronics, dentistry, and jewelry. Its price is heavily influenced by industrial demand, particularly from the automotive sector, as well as supply constraints, as palladium is mainly sourced from a few key regions, including Russia and South Africa. Traded on global markets, palladium's critical role in reducing vehicle emissions and its limited supply make it a highly sought-after commodity.