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Continuing bad news from auto manufacturers saw spot palladium hit $356 an ounce, a seven month low on Friday, before recovering $11 to finish at $363.50/371.50 by the New York close.

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Palladium is one of a group of six metals known as Platinum Group Metals or PGMs.

The others are

•       Platinum
•       Iridium
•       Rhodium
•       Ruthenium
•       Osmium. 

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Symbol :- Pd

Melting Point :-2830 F, 1555 C  

Palladium is a soft whitish grey metal resembling Platinum and which does not tarnish in air and is the least dense and has the lowest melting point of all PGMs.

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First discovered in 1803 by Wilfred Hyde Wollaston and named after an asteroid discovered two years earlier.

Wollaston treated crude platinum ore to extract Palladium metal.

At one time Palladium Chloride was prescribed as a treatment for tuberculosis, although it had few side effects it was eventually replaced by other more effective drugs.

Palladium coins were issued by Tonga in 1967 and since then Canada, Soviet Union,  France, Russia, China, Australia and Slovakia have followed suit most of which have been special commemorative coins.