New Delhi: The impact of the Russo-Ukraine war is being seen all over the world, including India. Stock markets around the world are facing a huge decline. With a 2,702-point decrease in the Indian market, the Russian market was also down by 50%. Amidst all this, there has been a record increase in the prices of crude oil. There are fears that the price of petrol and diesel in India may go up. But the prices of palladium have also started to rise rapidly around the world. This is because the largest production of palladium takes place in Russia. In such a situation, in the midst of the Russia-Ukraine war, the palladium can see a huge increase in the prices of these related things.

The Palladium is the shining white metal. It is part of a group consisting of platinum, ruthenium, rhodium, osmium, iridium. It is found in the highest quantity in Russia and South Africa. It is being used to make pollution control devices in vehicles such as vehicles and trucks. In the same year, its price has more than doubled. Its price is more than that of gold.

Palladium is the most expensive metal in the world. The difference between the supply and demand of this metal is very high. Its use is increasing as governments are getting tougher on emission rules. Due to this, automakers have to increase the consumption of this precious metal. The shortness of this metal remains. It is not available in as much quantity as it demands. The catalytic converters used in the exhaust of petrol and hybrid vehicles are prepared from palladium. For the first time in 2009, the sale of petrol cars increased compared to diesel cars. 80% of palladium is used to convert toxic gases like carbon monoxide, nitrogen dioxide into less harmful gases like nitrogen, carbon dioxide. In addition, palladium is used in mobile phones, electric equipment, dental treatment, jewellery. 

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