Palladium is a soft silver-white metal that resembles platinum. It is the least dense and has the lowest melting point of the platinum group metals. Over half of the supply of palladium goes into catalytic converters, which convert up to 90% of harmful gases from auto exhaust into less harmful substances. Palladium is a soft silver-white metal that resembles platinum. It is the least dense and has the lowest melting point of the platinum group metals.