Gold plating is renowned for its excellent conductivity, resistance to oxidation, and aesthetic appeal, making it a preferred choice in luxury items like jewelry and high-end electronics. However, gold is more expensive, which can increase costs, especially in large-scale applications.
On the other hand, palladium plating offers a more cost-effective solution while still providing excellent corrosion resistance and good electrical conductivity. Palladium plating is also harder and more wear-resistant than gold, making it suitable for industrial applications where durability is crucial.