Palladium: Too Volatile for My Stack?

6 June 2026

Right, palladium. For me, it’s generally a hard pass for core stacking. It’s far too volatile and inextricably linked to industrial demand, especially car catalytic converters. One big shift to EVs or a new catalyst material, and that price could plummet fast. You’re essentially betting heavily on the auto industry. Premiums are hefty too, and the bid/ask spread can really bite you when selling. Gold and silver offer far better long-term wealth preservation and liquidity for stackers like us. Maybe a tiny, speculative punt if you're feeling brave, but not for serious wealth accumulation. Stick to the shiny yellow and white stuff.

Discussion

Precisely why I only ever had a tiny dabble in palladium years ago – got stung on the sell. The industrial demand linkage is spot on, especially with EVs. I wouldn't call the premiums *hefty* these days though; they've actually come down a bit from their peak, but the spread still eats you alive.
Honestly, that's why silver's my main squeeze. Its industrial demand is spread across so many sectors, not just cars. Premiums are a doddle compared to palladium, and you don't need a mortgage to buy an ounce. Far less of a headache, eh?
Volatility is precisely why I stick to gold. Tried a bit of platinum once, thinking it was 'the next big thing,' and ended up just converting it back into sovereigns. Nothing beats gold's stability and universal appeal, especially proper UK coinage. Less faff, more peace of mind.
With palladium's volatility, and those brutal premiums, I simply wouldn't bother with it for my vault. My stack's about peace of mind. Why pay for secure storage on something that gives you so much market stress? Gold and silver keep me sleeping soundly.
However, focusing solely on industrial swings overlooks the scarcity of genuinely collectible palladium coinage. Imagine completing a full PGM set without it! For numismatists, the rarity of certain issues can add a distinct floor, cushioning some of that market volatility.
Seeing palladium drop from over £2,000 an ounce to below £900 so quickly really does make a new stacker like me wary.
I chased palladium's rally years back, wrongly assuming its industrial ties were pure strength. Its subsequent drop taught me *exactly* what you're saying.
Tell me about it! I stick to silver, where industrial demand *and* my wallet's limitations keep me humble. At least I won't need a catalytic converter for it!
Wish I'd never touched Palladium. That 1oz PAMP bar I bought tanked, whereas my Britannias just kept chugging along. Stick to gold/silver.