Palladium: the smart white metal choice
Platinum prices have soared over the past few years and with a platinum price point currently variable between $1500 - $1800/oz, it is unaffordable to many consumers. As a result of soaring prices, many consumers in the jewellery industry have turned to palladium as a viable alternative to platinum and white gold.
Palladium is a rare and lustrous silvery-white metal that is mined alongside platinum and, as it belongs to the same group of metals as platinum, it shares many physical and chemical similarities as platinum. Currently, palladium is priced approximately 80% less than platinum (approximately $380 - $500/oz) and as consumers in the United States of America and China continue to drive the popularity of palladium in jewellery, South African consumers are sure to follow suite.
Why would you consider having your designer diamond engagement ring or other item of jewellery manufactured in palladium instead of white gold though?
Unlike white gold, palladium does not require rhodium-plating and, as it is not alloyed with other metals like nickel (as is the case with white gold), it will not tarnish over time. Because palladium rings are 95 – 100% pure palladium, they are hypo-allergenic and perfect for people with sensitive skin. Palladium is also harder than white gold so palladium jewellery is incredibly durable and is more suited to intricate designs than white gold.
One can’t ignore the fact that palladium is more cost effective than white gold and platinum. Palladium is currently 80% less than platinum and 70% cheaper than white gold. In addition, palladium is significantly lighter than platinum and as jewellery is often priced according to weight, a palladium ring will weigh much less than a platinum ring for an equivalent design.