Platinum
Platinum is a member of the platinum group of elements and group 10 of the periodic table of elements. It has six naturally occurring isotopes. It is one of the rarer elements in Earth's crust, with an average abundance of approximately 5 μg/kg. It occurs in some nickel and copper ores along with some native deposits, mostly in South Africa, which accounts for 80% of the world production. Because of its scarcity in Earth's crust, only a few hundred tonnes are produced annually, and given its important uses, it is highly valuable and is a major precious metal commodity.
Palladium
When platinum became a strategic resource during World War II, many jewelry bands were made out of palladium. Palladium was little used in jewelry because of the technical difficulty of casting. With the casting problem resolved the use of palladium in jewelry increased, originally because platinum increased in price while the price of palladium decreased. In early 2004, when gold and platinum prices rose steeply, China began fabricating volumes of palladium jewelry, consuming 37 tonnes in 2005. Subsequent changes in the relative price of platinum lowered demand for palladium to 17.4 tonnes in 2009. Demand for palladium as a catalyst has increased the price of palladium to about 50% higher than that of platinum in January 2019.