950 palladium is 95% pure palladium. Palladium is a metal in the platinum family, and shares many characteristics as platinum - durability, tarnish resistance, and is hypo-allergenic. It is a precious metal, and in addition to being used in jewelry, is has often been used in catalytic converters. It is a “white metal” that is slightly more gray than platinum or sterling silver. Palladium is approximately 1/3 the weight and cost of platinum.
Palladium and platinum may show scratches and dings earlier than with gold, but on palladium and platinum no metal is removed when scratched. So over many years a platinum or palladium band will weigh essentially the same as when it was new, whereas a gold band will become thinner over time because the metal is rubbed away.