Palladium Price History
As of August 8, 2026, the palladium price is $1,374.00 per troy ounce, down 0.54% over the past 24 hours. The price is quoted in US dollars per troy ounce and updates continuously as NYMEX futures and over-the-counter markets trade. That works out to $44.18 per gram and $44,175 per kilogram.
Palladium is the most volatile precious metal, swinging from $160 in 2008 to $3,440 in 2022. Explore two decades of extreme price action driven by Russian supply fears, catalytic converter demand, and the EV revolution.
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Price Chart
Embed24h Change
24h Range
$1,373.92 to $1,381.58Bid / Ask
$1,374.00All-Time High
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Palladium Price by Year (1970 to 2025)
Annual average price per troy ounce in USD (USGS/Engelhard producer prices 1970 to 1988, LBMA 1989 to 2025). Click any year for that year's full breakdown.
| Year | Avg Price (USD/oz) | YoY Change | ||
|---|---|---|---|---|
| 1970s: Minor Metal to Precious-Metals Mania | ||||
| 1970 Pre-catalytic-converter era; palladium a minor industrial/dental metal | $38 | n/a | ||
| 1971 | $37 | -2.6% | ||
| 1972 | $42 | +13.5% | ||
| 1973 1970s commodity boom; price nearly doubles | $78 | +85.7% | ||
| 1974 Oil-crisis-era PGM/commodity spike; first major peak | $133 | +70.5% | ||
| 1975 Recession pullback from 1974 peak | $93 | -30.1% | ||
| 1976 | $51 | -45.2% | ||
| 1977 NYMEX palladium futures launched | $49 | -3.9% | ||
| 1978 | $63 | +28.6% | ||
| 1979 Precious-metals mania (Iran revolution / Hunt-silver era); palladium up ~90% | $120 | +90.5% | ||
| 1980s: Bust, Recovery & Autocatalyst Rise | ||||
| 1980 Peak of the 1979-80 precious-metals bubble; blow-off top then collapse | $201 | +67.5% | ||
| 1981 Bubble bursts; price more than halves amid recession | $95 | -52.7% | ||
| 1982 Cyclical low amid global recession | $67 | -29.5% | ||
| 1983 Sharp recovery | $136 | +103.0% | ||
| 1984 | $148 | +8.8% | ||
| 1985 | $107 | -27.7% | ||
| 1986 | $116 | +8.4% | ||
| 1987 Autocatalyst demand growing as three-way catalysts spread | $130 | +12.1% | ||
| 1988 | $123 | -5.4% | ||
| 1989 LBMA begins publishing a palladium price | $146 | +18.7% | ||
| 1990s: Russian Supply Shocks | ||||
| 1990 | $116 | -20.5% | ||
| 1991 Decade low amid Soviet stockpile sales and recession | $89 | -23.3% | ||
| 1992 | $89 | +0.0% | ||
| 1993 Palladium-rich autocatalysts gain share over platinum | $123 | +38.2% | ||
| 1994 Auto-catalyst demand rising | $150 | +22.0% | ||
| 1995 | $153 | +2.0% | ||
| 1996 Ranged ~$116-150 as Russian shipments resumed | $130 | -15.0% | ||
| 1997 Russian export delays push palladium to a multi-year high (~$245) mid-year | $184 | +41.5% | ||
| 1998 Russian supply disruptions drive a sharp rally | $290 | +57.6% | ||
| 1999 Continued Russian supply uncertainty; record ~$454 in late December | $363 | +25.2% | ||
| 2000s: Supply-Crisis Spike & Substitution Bust | ||||
| 2000 Russian-supply crisis; price rockets from ~$440 toward a record ~$985 by year-end | $692 | +90.6% | ||
| 2001 Record $1,094/oz AM London fix on 26 Jan 2001, then collapse as Russian supply resumes | $608 | -12.1% | ||
| 2002 Price crashes as auto demand thrifts palladium; Ford writes off ~$1B stockpile | $339 | -44.2% | ||
| 2003 Multi-year low as glut persists and platinum substitution continues | $202 | -40.4% | ||
| 2004 | $233 | +15.3% | ||
| 2005 | $204 | -12.4% | ||
| 2006 ETF launch and investment demand lift price | $323 | +58.3% | ||
| 2007 | $357 | +10.5% | ||
| 2008 Spiked to ~$588 (Mar) then crashed to ~$165 in the global financial crisis | $355 | -0.6% | ||
| 2009 Recovery off crisis lows on stimulus and rebounding auto demand | $266 | -25.1% | ||
| 2010s: Deficit-Driven Bull Market | ||||
| 2010 Price roughly doubles on recovering auto and Chinese demand and ETF flows | $531 | +99.6% | ||
| 2011 | $738 | +39.0% | ||
| 2012 | $649 | -12.1% | ||
| 2013 | $729 | +12.3% | ||
| 2014 S. African platinum-belt strikes and Russia/Ukraine tensions tighten supply | $803 | +10.2% | ||
| 2015 Commodity-wide selloff and China growth fears; VW diesel scandal shifts focus to gasoline catalysts | $691 | -13.9% | ||
| 2016 Cyclical low before the multi-year deficit bull run begins | $613 | -11.3% | ||
| 2017 Structural deficit; palladium up ~56% and passes $1,000 late in the year | $869 | +41.8% | ||
| 2018 Crosses $1,000 and briefly overtakes platinum/gold; year-end ~$1,266 | $1,029 | +18.4% | ||
| 2019 Record run on auto-catalyst deficit and tighter Euro6/China VI emissions rules | $1,537 | +49.4% | ||
| 2020s: Record Highs & the EV-Era Decline | ||||
| 2020 All-time-high run; hit ~$2,875 (Feb) then COVID dip and rebound; supply still in deficit | $2,193 | +42.7% | ||
| 2021 Record annual average amid acute deficit and chip-shortage-constrained auto output | $2,398 | +9.3% | ||
| 2022 Spiked to record ~$3,440/oz on 7 Mar on Russia-sanctions supply fears, then fell | $2,112 | -11.9% | ||
| 2023 Sharp decline as EV adoption and Pt-for-Pd substitution erode gasoline-catalyst demand | $1,337 | -36.7% | ||
| 2024 Down ~27% y/y; falls back toward $1,000/oz on softer auto-catalyst demand | $984 | -26.4% | ||
| 2025 Rebounds off an April low near $866 to about $1,660 by year-end on slowing EV adoption and Russian-supply concerns | $1,150 | +16.9% | ||
Palladium Price Through the Decades
Palladium's price history is defined by extreme supply concentration and a single dominant use case: gasoline catalytic converters. Roughly 80% of palladium demand comes from the auto industry. Approximately 40% of global supply comes from Russia (Norilsk Nickel), with another 35% from South Africa. This razor-thin supply-demand balance has produced some of the most dramatic price swings in commodity markets.
The early 2000s delivered palladium's first major price shock. Fears of Russian stockpile depletion sent prices surging above $1,100 per ounce in January 2001. Russia had been selling palladium from Soviet-era state reserves, and reports that these stockpiles were running low triggered panic buying across the auto industry. Ford Motor Company purchased over $1 billion worth of palladium at peak prices, then took a write-down of approximately $1 billion when prices collapsed.
The period from 2016 to 2022 marked palladium's most extraordinary bull run. A persistent supply deficit lasted nearly a decade. Tightening emissions regulations worldwide, including Euro 6d in Europe, China VI standards, and U.S. Tier 3 requirements, increased the amount of palladium loaded into each catalytic converter.
Global mine production remained flat throughout this period. Palladium is primarily produced as a byproduct of platinum and nickel mining, so supply does not scale independently in response to higher prices. The bull run culminated in March 2022 when the Russia-Ukraine conflict pushed palladium to its all-time high of approximately $3,440 per ounce.
Since then, the EV transition has fundamentally altered the demand trajectory. Automaker substitution of cheaper platinum has further eroded palladium's dominance in catalytic converters, and prices fell sharply from the 2022 peak, bottoming near $870 per ounce in April 2025. Palladium then staged a partial rebound, climbing back toward $2,200 by January 2026 before easing to around $1,210 by mid-2026, still well below the record high.
Data provided by MetalCharts, a free precious metals tracking platform offering real-time prices, interactive charts, historical data, and portfolio tools for gold, silver, platinum, palladium, and copper. Prices sourced from major global exchanges including COMEX, LBMA, and LME, updated continuously during market hours.
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