Lloyds Commodities: Palladium jewelry blows past gold, silver, platinum, taking nation by storm

Oct. 30, 2011 - PRLog -- PALM BEACH GARDENS, Fla. -- The latest jewelry sensation, particularly among Hollywood stars like Sarah Jessica Parker and Kelly Osbourne, wasn’t crafted from gold, silver or platinum. Instead, the hottest commodity on the jewelry scene is palladium.

Palladium, a physical commodity most commonly associated with catalytic converters, has until recently been used almost exclusively in the industrial realm. In addition to catalytic car converters, components of palladium are found in mobile phones, flat-screen televisions and computers.

About 300 tonnes of the precious metal are produced each year, mostly in South Africa, Russia and North America.

“The past few years, palladium has become increasingly popular in jewelry production,” said Frank Gaudino, managing partner at Lloyds Commodities, a precious metal wholesale dealer based in Palm Beach Gardens, Fla. “That’s largely because of the boost precious metals are receiving due to the rough economy.”

According to Gaudino, the price of gold is currently more expensive than platinum, with spot metal prices showing gold at $1,654 an ounce on Oct. 24, versus $1,554.20 per ounce for platinum. As a result, lower-priced palladium at $640 an ounce has become all the rage.

Lloyds Commodities indicated that palladium is the fourth-recognized precious metal alongside gold, silver and platinum. Gaudino said palladium is a grayish silver metal, similar in appearance to platinum. Like platinum, palladium keeps its color over time and does not tarnish like silver. Unlike white gold, palladium doesn’t need plating.

Palladium also weighs less than platinum and gold – it’s about half the weight of platinum and two-thirds the weight of 18-carat white gold.

The most common form of palladium used for jewelry is palladium 950 – which consists of 95 percent pure palladium and 5 percent other metals. The other metals can include ruthenium, gallium, copper and cobalt among others.

What appeals to consumers about palladium? Gaudino believes it’s the clean lines of the metal. The number of both men and women choosing palladium wedding rings, engagement rings and eternity rings are on the rise, according to jewelers across the country.

Lloyds Commodities helps investors who would like to sell palladium – or other precious metals -- to become independent dealers. When precious metals like gold, silver, platinum and palladium thrive in the markets, it is an ideal time to become an independent retailer with Lloyds.

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About Lloyds Commodities

Lloyds Commodities is a wholesale dealer specializing in the purchase and sale of precious metals such as gold, silver, platinum, palladium and copper. Lloyds maintains relationships with worldwide suppliers, financing institutions, and investment bankers to maintain client equity. Lloyds has extensive back-office support for day-to-day operations -- including trade confirmations and statements -- allowing its retail clients to focus on expanding and marketing their businesses. For more information about Lloyds Commodities, visit http://www.lloydscommodities.com/.