Definition of 'Palladium'
A metal used in many types of manufacturing processes and is found in electronics and industrial products. Palladium is an element found in the periodic table (atomic number 46), and is considered to be rare. The majority of the world's supply comes from mines located in the United States, Russia, South Africa and Canada.
Investopedia explains 'Palladium'
Palladium is an important component in electronics, and is used in many new technologies such as fuel cells. As a commodity, it has drawn the attention of investors because it is not easily substituted, and is an important component of catalytic converters.
Palladium, platinum, rhodium, ruthenium, iridium and osmium form a group of elements referred to as the platinum group metals (PGMs).