Palladium is a rare silvery-white metal. It was discovered in 1803 by William Hyde Wollaston who named it after the asteroid Pallas.
Palladium is commonly used, along with platinum, in catalytic converters whose main aim is to convert harmful gases from auto exhausts into less-harmful substances. Another important technological application for Palladium is in fuel cells. Palladium can also be used in electronics, dentistry, medicine, hydrogen purification, chemical applications, groundwater treatment and jewelry.
Ore deposits for palladium are rare. The largest deposits discovered so far are in the Transvaal Basin in South Africa, Montana, United States, Ontario, Canada and Norilsk Complex in Russia. Other sources of palladium are from recycling, generally from scrapped catalytic converters. Due to the rarity of the metal it is highly valued for investments and price.