Palladium and Russia

"You've been playing us off each other, haven't you?"
--James Bond (From Russia With Love)

Although gold and silver are THE traditional precious metals, platinum and palladium are also classified as PM's. Neither are generally considered good candidates for money. Instead, both are better characterized as industrial metals. The largest use of palladium, for example, is in catalytic converters.

However, platinum and palladium are both 'precious' in the sense that an ounce costs a pretty penny. Platinum currently trades above $1400/oz (approx $100/oz higher than gold), and palladium is quoted at nearly $800/oz.

I have never seriously looked at either as investments because I like the monetary characteristics of gold and silver.

I am, however, currently intrigued by palladium as a play on growing tensions with Russia. Most of the world's palladium is currently mined in Russia. As sanctions fly this way and that, it is possible that Russia might restrain palladium exports.

Technically, the metal is breaking out from a multi-year 'pennant' pattern. Bullish action.

position in gold, silver, palladium