They have a number of things in common. They're both mined as byproducts, they are two of the six precious metals, they're both white and industry uses small amounts of both per application, so they are price inelastic. But there's so much more silver. That's an obvious difference. Palladium doesn't have the world's largest short position as does silver, nor do six billion people see palladium as a financial holding as they do silver and silver has extremely high leasing levels that palladium doesn't have.
Silver has more in common with palladium than it does with gold.
Ten years ago palladium was twelve times more expensive than silver. Now it's two hundred and seventeen times more expensive. Yes indeed, silver has a lot of catching up to do. That's where the price changes, but it's not why. I'm asking why silver dropped several cents.