I've only traded it on medium term swing trades, but I followed the futures charts for a while and found it's very thinly traded compared to Gold and Silver, but the correlation to them both is strong.
Gold traded 149,111 contracts on Friday, whereas Silver traded 49,394 and Palladium only traded 4,175 which is roughly the normal relationship. See CME Palladium Futures Settlements Data for last weeks data from the CME. So if you want the best liquidity then Golds a better option, but thin markets have opportunities too.
"Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill" – Reminiscences of a Stock Operator.
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