Palladium bullion refers to physical bars or coins made from palladium, a rare and precious metal. It is valued for its unique properties, including resistance to corrosion and high melting point, making it useful in various industrial applications, particularly in the automotive industry for catalytic converters. Investors often buy palladium bullion as a way to diversify their portfolios and hedge against inflation. The price of palladium can fluctuate based on market demand, mining production, and economic conditions, similar to other precious metals like gold and silver.