<p>在持续的地缘政治不确定性、美元走弱、市场不确定性加剧和通货膨胀上升的背景下，贵金属迎来了丰收的一年。黄金创下了 11 个历史新高，年初至今（YTD）涨幅超过 45%。白银通常跟随黄金，其 YTD 涨幅接近 57%，表现优于黄金。同时，铂金在 2025 年上涨了 75%，交易价格接近 17 年来的高点。</p>
<p>在 9 月份，美联储自 2024 年以来首次降息，为贵金属价格提供了又一助力。该资产类别历史上与利率呈现反向相关关系，这可能在本月再次成为催化剂。根据 CME 集团的 FedWatch 工具，目前美联储在 10 月会议上再次降息的概率为 96.7%。</p>
<p>然而，尽管黄金、白银和铂金今年表现优异，另一种贵金属也同样表现出色，尽管常常被忽视。</p>
<p>钯金的 YTD 涨幅超过 41%，证明了其在任何投资组合中的重要性，但它并没有像上述金属那样受到同样的关注。</p>
<p>但对于希望多样化商品投资的投资者来说，将这种金属纳入视野是一个良好的开端。而追踪 abrdn Physical Palladium Shares ETF NYSEARCA: PALL 是实现这一目标的一种方式，该 ETF YTD 上涨超过 36%，不仅表现优于大盘，还超越了 2025 年标准普尔 500 指数的主要行业，包括领先的通信服务行业。</p>
<h2>从牙科到燃料电池，钯金需求涵盖广泛</h2>
<p>许多人最后一次听说钯金是在疫情高峰期，当时全国各地的窃贼因盗窃汽车排气系统中的催化转换器而成为新闻焦点。虽然这是钯金的主要用途，占其需求的 80%，但其应用遍及多个行业。</p>
<p>如今，这种金属可以在外科手术器械、植入组件和燃料电池中找到。其导电性和抗腐蚀特性使其在电子行业备受青睐，广泛应用于电容器、印刷电路板、半导体框架和硬盘。此外，钯金的高熔点使其在航空航天应用中理想，而其明亮的白色外观和低过敏特性使其成为珠宝中铂金的更具成本效益的替代品。</p>
<p>尽管全球向无排放电动车（EV）的转型正在减缓对催化转换器的需求，但这种需求依然稳定。但工业消费，特别是来自电子行业的消费，正在抵消因电动车导致的需求下降。因此，钯金价格达到了自 7 月以来的最高水平，主要受到供应限制和工业需求反弹的推动。</p>
<p>这些供应限制使得这种贵金属在短期到中期内特别具有吸引力。俄罗斯和南非约占全球产量的 80%，这使得市场容易受到供应链和地缘政治风险的影响。这将继续支撑价格，今年的价格已达到自 2023 年以来的最高水平。</p>
<h2>PALL：2025 年市场领先的钯金 ETF</h2>
<p>abrdn Physical Palladium Shares ETF 正如其名，背后由实物贵金属支持。管理该基金的阿伯丁集团在伦敦的安全金库中持有钯金条。该 ETF 旨在为投资者提供一种简单的方式来进入贵金属市场。每股 114.17 美元，也是投资钯金的一种成本效益高的方式，目前钯金现货价格为每盎司 1,264 美元。</p>
<p>PALL 的管理资产（AUM）为 2.0874 亿美元，远小于流行的指数基金，如 Vanguard S&amp;P 500 ETF NYSEARCA: VOO，其管理资产为 7580.2 亿美元。其交易量远低，三个月日均交易量为 316,720 股。作为对比，VOO 的三个月日均交易量超过 700 万股，因此 PALL 存在一些流动性问题。</p>
<p>但 PALL 在 2025 年的表现优于 VOO，YTD 涨幅超过 36%，而跟踪标准普尔 500 的 VOO 回报率不到 14%。其费用为 0.60%，对于被动管理的 ETF 来说相对较高。但 PALL 确实作为一个低买候选者而具有吸引力。</p>
<p>对于一个在 2025 年超越每个股票市场行业的基金，这可能难以置信。但放眼长远，PALL 自 2022 年 3 月 4 日的历史高点下跌超过 59%。自 2024 年 1 月以来，该基金似乎正处于真正的突破之中。</p>
<p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/logos/articles/med_20250930183423_blobid0.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/logos/articles/med_20250930183423_blobid0.png"/></p>
<p>这一观点可以通过该 ETF 的一年期图表得到支持，该图表在 6 月 26 日显示出看涨的金叉（图表中的绿色圆圈）。这一模式发生在 50 日移动平均线穿越 200 日移动平均线之上，通常预示着价格上涨。自金叉出现以来，PALL 上涨了近 17%，我不会惊讶于这一趋势在今年剩余时间内继续。</p>
<h2>你现在应该投资 1,000 美元于 abrdn Physical Palladium Shares ETF 吗？</h2>
<p>在考虑 abrdn Physical Palladium Shares ETF 之前，你需要听听这个。</p>
<p>MarketBeat 每天跟踪华尔街顶级评级和表现最佳的研究分析师及其推荐给客户的股票。MarketBeat 已识别出五只股票，顶级分析师正在悄悄地向客户推荐，现在买入，以便在更广泛的市场意识到之前……而 abrdn Physical Palladium Shares ETF 并不在名单上。</p>
<p>虽然 abrdn Physical Palladium Shares ETF 目前在分析师中获得持有评级，但顶级分析师认为这五只股票更值得购买。</p>
<p>在这里查看这五只股票</p>

钯金 ETF - ETFS

<p>在地缘政治不确定性和美元走弱的背景下，黄金、白银和铂金等贵金属表现良好，钯金的年初至今涨幅也超过了 41%。abrdn 钯金实物股票 ETF（PALL）表现优于标准普尔 500 指数，年初至今涨幅超过 36%。钯金的需求涵盖多个行业，而来自俄罗斯和南非的供应限制则支撑了其价格。尽管存在流动性担忧，PALL 仍然是一个引人注目的投资机会，因为其价格远低于历史最高点，暗示未来增长的潜力</p>

<p>Amid a backdrop of ongoing geopolitical uncertainty, a weakening U.S. dollar, ongoing market uncertainty, and creeping inflation, precious metals are having a banner year. Gold has set 11 all-time highs and has posted a year-to-date (YTD) gain of more than 45%. Silver, which often follows gold, has outperformed the yellow metal with a YTD gain of nearly 57%. Meanwhile, platinum is up 75% in 2025, trading near a 17-year high.</p>
<div class="lb-trans"><p>在持续的地缘政治不确定性、美元走弱、市场不确定性加剧和通货膨胀上升的背景下，贵金属迎来了丰收的一年。黄金创下了 11 个历史新高，年初至今（YTD）涨幅超过 45%。白银通常跟随黄金，其 YTD 涨幅接近 57%，表现优于黄金。同时，铂金在 2025 年上涨了 75%，交易价格接近 17 年来的高点。</p>
</div><p>In September, the Federal Reserve’s first rate cut since 2024 added another tailwind for precious metal prices. The asset class historically exhibits an inverse correlation with interest rates, which could prove to be a catalyst again this month. According to the CME Group’s FedWatch Tool, there’s currently a 96.7% chance that the Fed will cut rates again at its October meeting.</p>
<div class="lb-trans"><p>在 9 月份，美联储自 2024 年以来首次降息，为贵金属价格提供了又一助力。该资产类别历史上与利率呈现反向相关关系，这可能在本月再次成为催化剂。根据 CME 集团的 FedWatch 工具，目前美联储在 10 月会议上再次降息的概率为 96.7%。</p>
</div><p>However, while gold, silver, and platinum have handily beaten the market this year, so too has another—albeit an often overshadowed—precious metal.</p>
<div class="lb-trans"><p>然而，尽管黄金、白银和铂金今年表现优异，另一种贵金属也同样表现出色，尽管常常被忽视。</p>
</div><p>Palladium’s YTD gain of more than 41% has justified its role in any portfolio, but it doesn’t receive the same fanfare as those aforementioned metals.</p>
<div class="lb-trans"><p>钯金的 YTD 涨幅超过 41%，证明了其在任何投资组合中的重要性，但它并没有像上述金属那样受到同样的关注。</p>
</div><p>But for investors looking to diversify their commodities exposure, keeping the metal on their radar is a good start. And one way of doing that is by tracking the abrdn Physical Palladium Shares ETF NYSEARCA: PALL, which is up more than 36% YTD and not only outperforming the broad market, but outperforming the top sectors of the S&amp;P 500, including 2025’s index-leading communication services sector.</p>
<div class="lb-trans"><p>但对于希望多样化商品投资的投资者来说，将这种金属纳入视野是一个良好的开端。而追踪 abrdn Physical Palladium Shares ETF NYSEARCA: PALL 是实现这一目标的一种方式，该 ETF YTD 上涨超过 36%，不仅表现优于大盘，还超越了 2025 年标准普尔 500 指数的主要行业，包括领先的通信服务行业。</p>
</div><h2>From Dentistry to Fuel Cells, Palladium Demand Runs the Gamut</h2>
<div class="lb-trans"><h2>从牙科到燃料电池，钯金需求涵盖广泛</h2>
</div><p>The last time many people heard about palladium was during the height of the pandemic, when thieves across the country made headlines for stealing catalytic converters from vehicles’ exhaust systems. While that’s the foremost use of palladium, accounting for 80% of the precious metal’s demand, its applications span numerous industries.</p>
<div class="lb-trans"><p>许多人最后一次听说钯金是在疫情高峰期，当时全国各地的窃贼因盗窃汽车排气系统中的催化转换器而成为新闻焦点。虽然这是钯金的主要用途，占其需求的 80%，但其应用遍及多个行业。</p>
</div><p>Today, the metal can be found in surgical instruments, implant components, and fuel cells. Its conductivity and anticorrosive features make it coveted by the electronics industry, with uses in capacitors, printed circuit boards, semiconductor frames, and hard drives. Additionally, palladium’s high melting point makes it ideal for applications in aerospace, while its bright white appearance and hypoallergenic properties make it an attractive lower-cost alternative to platinum in jewelry.</p>
<div class="lb-trans"><p>如今，这种金属可以在外科手术器械、植入组件和燃料电池中找到。其导电性和抗腐蚀特性使其在电子行业备受青睐，广泛应用于电容器、印刷电路板、半导体框架和硬盘。此外，钯金的高熔点使其在航空航天应用中理想，而其明亮的白色外观和低过敏特性使其成为珠宝中铂金的更具成本效益的替代品。</p>
</div><p>That demand is holding steady in spite of the global shift towards emissions-free electric vehicles (EVs), which is slowing the need for catalytic converters. But industrial consumption—specifically from the electronics industry—is offsetting slipping demand due to EVs. As a result, palladium prices are at their highest levels since July, driven chiefly by concerns about supply constraints and a rebound in industrial demand.</p>
<div class="lb-trans"><p>尽管全球向无排放电动车（EV）的转型正在减缓对催化转换器的需求，但这种需求依然稳定。但工业消费，特别是来自电子行业的消费，正在抵消因电动车导致的需求下降。因此，钯金价格达到了自 7 月以来的最高水平，主要受到供应限制和工业需求反弹的推动。</p>
</div><p>Those supply constraints are what makes the precious metal particularly attractive in the near to medium term. Russia and South Africa account for around 80% of global output, which leaves the market susceptible to supply chain and geopolitical risks. That will continue to support prices, which this year have reached their highest levels since 2023.</p>
<div class="lb-trans"><p>这些供应限制使得这种贵金属在短期到中期内特别具有吸引力。俄罗斯和南非约占全球产量的 80%，这使得市场容易受到供应链和地缘政治风险的影响。这将继续支撑价格，今年的价格已达到自 2023 年以来的最高水平。</p>
</div><h2>PALL: 2025’s Market-Beating Palladium ETF</h2>
<div class="lb-trans"><h2>PALL：2025 年市场领先的钯金 ETF</h2>
</div><p>The abrdn Physical Palladium Shares ETF is—as its name suggests—backed by the physical precious metal. The Aberdeen Group, which manages the fund, holds palladium bars in a secure vault in London. The ETF is designed to offer investors a simple means of accessing the precious metals market. At $114.17 per share, it is also a cost-efficient way to invest in palladium, whose current spot price is $1,264 per troy ounce.</p>
<div class="lb-trans"><p>abrdn Physical Palladium Shares ETF 正如其名，背后由实物贵金属支持。管理该基金的阿伯丁集团在伦敦的安全金库中持有钯金条。该 ETF 旨在为投资者提供一种简单的方式来进入贵金属市场。每股 114.17 美元，也是投资钯金的一种成本效益高的方式，目前钯金现货价格为每盎司 1,264 美元。</p>
</div><p>With $208.74 million in assets under management (AUM), PALL is a fraction of the size of popular index funds like the Vanguard S&amp;P 500 ETF NYSEARCA: VOO and its $758.02 billion in AUM. It has far lower volume, with a three-month daily average of 316,720 shares. For context, VOO’s three-month daily average is more than seven million shares, so there are some liquidity concerns with PALL.</p>
<div class="lb-trans"><p>PALL 的管理资产（AUM）为 2.0874 亿美元，远小于流行的指数基金，如 Vanguard S&amp;P 500 ETF NYSEARCA: VOO，其管理资产为 7580.2 亿美元。其交易量远低，三个月日均交易量为 316,720 股。作为对比，VOO 的三个月日均交易量超过 700 万股，因此 PALL 存在一些流动性问题。</p>
</div><p>But PALL has outperformed the VOO in 2025, posting a YTD gain of more than 36%, while the S&amp;P 500-tracking VOO has returned less than 14% to its shareholders. Its expense of 0.60% is relatively high for a passively managed ETF. But the PALL is truly appealing as a buy-low candidate.</p>
<div class="lb-trans"><p>但 PALL 在 2025 年的表现优于 VOO，YTD 涨幅超过 36%，而跟踪标准普尔 500 的 VOO 回报率不到 14%。其费用为 0.60%，对于被动管理的 ETF 来说相对较高。但 PALL 确实作为一个低买候选者而具有吸引力。</p>
</div><p>That may be hard to believe for a fund that’s outperformed every stock market sector in 2025. But zooming out, PALL is down more than 59% from its all-time high on March 4, 2022. After consolidating since Jan. 2024, the fund looks like it could be in the midst of a genuine breakout.</p>
<div class="lb-trans"><p>对于一个在 2025 年超越每个股票市场行业的基金，这可能难以置信。但放眼长远，PALL 自 2022 年 3 月 4 日的历史高点下跌超过 59%。自 2024 年 1 月以来，该基金似乎正处于真正的突破之中。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/logos/articles/med_20250930183423_blobid0.png" alt="" original-src="https://www.marketbeat.com/logos/articles/med_20250930183423_blobid0.png"/></p>
<p>That notion can be supported by the ETF’s one-year, which displayed a bullish golden cross on June 26 (green circle in the chart above). That pattern, which occurs when the 50-day moving average passes above the 200-day moving average, typically precedes upward price action. Since that golden cross emerged, PALL is up nearly 17%, and I wouldn’t be surprised if that trend continues throughout the remainder of the year.</p>
<div class="lb-trans"><p>这一观点可以通过该 ETF 的一年期图表得到支持，该图表在 6 月 26 日显示出看涨的金叉（图表中的绿色圆圈）。这一模式发生在 50 日移动平均线穿越 200 日移动平均线之上，通常预示着价格上涨。自金叉出现以来，PALL 上涨了近 17%，我不会惊讶于这一趋势在今年剩余时间内继续。</p>
</div><h2>Should You Invest $1,000 in abrdn Physical Palladium Shares ETF Right Now?</h2>
<div class="lb-trans"><h2>你现在应该投资 1,000 美元于 abrdn Physical Palladium Shares ETF 吗？</h2>
</div><p>Before you consider abrdn Physical Palladium Shares ETF, you'll want to hear this.</p>
<div class="lb-trans"><p>在考虑 abrdn Physical Palladium Shares ETF 之前，你需要听听这个。</p>
</div><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and abrdn Physical Palladium Shares ETF wasn't on the list.</p>
<div class="lb-trans"><p>MarketBeat 每天跟踪华尔街顶级评级和表现最佳的研究分析师及其推荐给客户的股票。MarketBeat 已识别出五只股票，顶级分析师正在悄悄地向客户推荐，现在买入，以便在更广泛的市场意识到之前……而 abrdn Physical Palladium Shares ETF 并不在名单上。</p>
</div><p>While abrdn Physical Palladium Shares ETF currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.</p>
<div class="lb-trans"><p>虽然 abrdn Physical Palladium Shares ETF 目前在分析师中获得持有评级，但顶级分析师认为这五只股票更值得购买。</p>
</div><p>View The Five Stocks Here</p>
<div class="lb-trans"><p>在这里查看这五只股票</p>
</div>

为什么那个鲜有人提及的贵金属可能是你最佳的投资选择