why is palladium so expensive in australia?

Discussion in 'Platinum' started by ego2spare, Apr 16, 2014.

  1. ego2spare

    ego2spare Active Member

    Joined:
    Jun 1, 2013
    Messages:
    1,741
    Likes Received:
    21
    Trophy Points:
    38
    Location:
    Australia
    an oz palladium bar is about $1020 at most of the online stores here (spot is $847). the same bar (converted) would cos $885au if bought from many US stores. thats $134 on top of the premium the US is already paying. was paying over $170 spot for palladium always normal? is it our middle of nowhere tax again?
     
  2. shadowmage

    shadowmage New Member

    Joined:
    May 18, 2012
    Messages:
    137
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    NSW
    GST on palladium would account for some of the price difference
     
  3. screaming eagle

    screaming eagle Member Silver Stacker

    Joined:
    Jan 5, 2014
    Messages:
    438
    Likes Received:
    8
    Trophy Points:
    18
    Location:
    WA
    The market for Palladium in Australia is probably not the most liquid of markets, hence dealers can't move stock very quickly and therefore their profit spread needs to be considerably larger than other metals to make a buck. GST would account for the rest.
     
  4. Au-mageddon

    Au-mageddon Active Member

    Joined:
    Jan 14, 2012
    Messages:
    1,807
    Likes Received:
    15
    Trophy Points:
    38
    I prefer to stack catalytic converters rather than those nice shiny bars of palladium :p LOL
     
  5. Ag bullet

    Ag bullet Well-Known Member

    Joined:
    Dec 27, 2013
    Messages:
    1,303
    Likes Received:
    1,056
    Trophy Points:
    113
    Location:
    SE QLD
    what about buying and selling privately? Is it normal to add gst for private deals?
     
  6. Savocado

    Savocado New Member

    Joined:
    Apr 16, 2014
    Messages:
    70
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    Melbourne
    I remember when palladium was a very good investment due to the first round of strikes from the South African Miners.

    I didn't but because of the GST, I would have needed 15% growth over the year to make more than banks were offering me in interest rates.

    Unfortunately it's not considered money here in Australia. Although I'm glad we're not the UK where silver is taxed 20%

    This lead me to the temptation to import it although I never did and proceeded with my other hobbies I still wonder what would happen if I did import my tax free palladium.
     

Share This Page