The Sprott Physical Platinum & Palladium Trust (NYSE:SPPP) is a closed-end-fund with $132 million in total assets. As the name implies, the fund invests in both platinum and palladium with shares backed by corresponding physical bullion. Palladium, in particular, has gained importance among precious metals considering its surge over the past year to a high above $2,800 per ounce and now more valuable than platinum and gold.
Indeed, a combination of tight global supplies and increasing use in more advanced catalytic converters from the automobile industry have represented strong fundamental tailwinds. On the