Palladium futures are financial contracts that allow investors to buy or sell palladium at a predetermined price on a specific future date. Palladium is a precious metal used primarily in automotive catalytic converters, electronics, and jewelry. These futures contracts are traded on exchanges, providing a way for investors to speculate on price movements or hedge against potential losses in the palladium market. Investors in palladium futures can benefit from price fluctuations without needing to physically own the metal. The contracts are standardized, meaning they have set sizes and expiration dates, making them easier to trade. This market can be influenced by factors such as supply and demand, geopolitical events, and changes in automotive industry regulations.