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palladium

definition

(Trading Symbol PA)One of the six metals that comprise the platinum group of metals. Because of palladium's unique catalytic properties, the bulk of the demand for it comes from the automotive industry. It is also used in electronic applications, dental alloys, and jewelry. On the NYMEX, the Palladium contract unit is 100 troy ounces. Palladium contracts move in $.05 minimum increments, or $5 per contract. Unlike gold, silver, copper, and aluminum, there are no limits on the daily price fluctuations for palladium.

Related Terms

 • precious metals  • Bullion  • New York Mercantile Exchange (NYMEX)  • NYMEX