Current Palladium Price

At Metals Radar, we provide a live palladium price chart that updates frequently, giving you the most accurate pricing details when you’re looking to buy or sell. The price is shown in US dollars per ounce by default, but you can easily switch to your preferred currency for local insight.

Palladium is a rare, durable metal—30 times scarcer than gold and tougher than platinum. It is widely used in various industries, including jewellery and automotive manufacturing. Trading palladium on the New York Mercantile Exchange (Nymex) has gained traction, but its price remains volatile, making it essential to stay informed and act when conditions are right.

Use our chart to monitor palladium prices in real-time and evaluate the value of your investments. Historical price trends are also available, offering performance data over different time frames, ranging from the past quarter to the last twenty years.

What Does the Palladium Spot Price Mean?

The spot price of palladium is its current trading value on the global market, expressed per troy ounce. It’s the price you’d pay, in US dollars, to purchase a troy ounce of this metal.

Understanding the Troy Ounce

Precious metals are typically measured in troy ounces. A troy ounce weighs about 31.1035 grams, slightly heavier than the standard ounce (28.3495 grams). For context, one kilogram equates to roughly 32.15 troy ounces.

How is Palladium’s Price Determined?

The London Metal Exchange and the London Platinum and Palladium Market set the pricing for palladium. These organisations establish a benchmark called the LBMA Palladium Price twice daily. Dealers then adjust their product prices based on this, adding a premium depending on the type of palladium bullion.

Key Influences on Palladium Prices

If you’re considering investing in palladium, it’s essential to understand the various factors affecting its market value. These insights help you anticipate price changes and make well-timed buying or selling decisions.

Supply and Demand Dynamics

Like any commodity, palladium prices respond to supply and demand. High demand coupled with limited supply drives prices up, while an oversupply or reduced demand can cause prices to fall.

Knowing where palladium is sourced is crucial—primarily from South Africa, Russia, the United States, and Canada. Any political or economic disruptions in these regions may impact palladium production and global prices.

For instance, a strike or natural disaster in South Africa could temporarily halt mining operations, reducing supply and increasing prices. Once production resumes, prices may stabilise again. A similar scenario played out in March 2022, when Russia’s military actions in Ukraine caused prices to spike to $3,440 per ounce.

Economic Influences

The value of the US dollar can significantly influence palladium prices. A weaker dollar often means palladium becomes more affordable for international buyers, potentially raising demand and prices. Conversely, a stronger dollar could lead to a price drop.

Automotive Industry Impact

A substantial portion of global palladium is used in catalytic converters to reduce vehicle emissions. This reliance means that any significant developments in the automotive industry could shift palladium’s price.

If the car industry thrives, so does the demand for palladium, pushing prices up. However, the rise of electric vehicles, which don’t use palladium, might reduce demand and lower its value.

Recycling and Substitution

Recycling and substitution can also help stabilise or lower palladium prices. For instance, recycling palladium from used catalytic converters, sometimes mixed with other metals like platinum or rhodium, can increase supply and reduce the reliance on fresh mining sources.

Is It the Right Time to Invest in Palladium?

Palladium is a valuable addition to diversifying your investment portfolio. It offers a hedge against risks associated with traditional assets like stocks and bonds. When conventional assets decrease in value, palladium tends to increase, providing a safety net.

Deciding when to buy palladium, however, requires a deeper look into global market conditions, especially in countries that produce the metal and the status of industries that depend on it, like automotive manufacturing. Analysing these factors will help you forecast price movements.

Many investors use price charts to pinpoint ideal buying or selling moments. Our chart is designed to reveal daily political, economic, and industrial trends. Over time, you’ll gain insight into palladium’s behaviour, helping you make better-informed investment choices.

If you’re considering buying now, Metals Radar’s comparison tool can connect you with the best precious metal dealers online, ensuring you get the most competitive rates for palladium bullion.

Will Palladium Prices Increase or Decrease?

Palladium prices are highly volatile and can be difficult to predict.

Given its reliance on the automotive sector, a global shift towards electric vehicles may diminish demand. Additionally, since palladium is predominantly sourced from regions like Russia and South Africa, geopolitical risks can disrupt production and cause price increases. However, new technological applications for palladium could also drive up demand and prices. It balances several factors, and price movements can go either way.

To better anticipate these fluctuations, we recommend reviewing palladium’s price history. Our chart allows you to explore trends over the past decade or more. Spotting spikes or drops and considering the underlying causes—whether economic, political, or industry-driven—can help you form a clearer picture of what to expect in the future.

What’s the All-Time High for Palladium?

Palladium reached a peak of $3,440.76 USD per ounce in March 2022, largely due to geopolitical unrest in Russia, a major producer of the metal.

Investing in Palladium Bullion

You have two primary options when purchasing physical palladium: bars or coins. Depending on your strategy and budget, each has its own benefits.

Palladium Bars

These are pure palladium ingots, typically made by private refineries and are at least 9995 pure. They are ideal for long-term investors looking to acquire substantial quantities at lower premiums, keeping them close to the spot price.

Palladium bars come in various sizes, from 1 gram up to 1 kilogram, allowing flexibility in investment size. Larger bars are excellent for bulk purchases, though they lack liquidity since partial selling isn’t possible. Therefore, they’re best suited for those with a long-term perspective.

Renowned manufacturers include PAMP Suisse, Valcambi, and Argor-Heraeus.

Palladium Coins

Government mints produce high-purple palladium coins (9995 fineness), often showcasing intricate designs. While they carry higher premiums than bars, their value may rise due to rarity or historical significance.

Available in sizes from 1/10 ounce to 2 ounces, palladium coins are more accessible and easier to liquidate, making them suitable for a broader range of investors.

Popular choices include the Palladium Australian Emu, American Eagle, and Canadian Maple Leaf.

Regardless of your choice, ensure your palladium is securely stored in a safe environment.

Find the Best Prices Online

Thinking about investing in palladium? Maximise your returns by using Metals Radar’s comparison tool to find the lowest prices on the market from reliable dealers. We help you secure the best rates, ensuring you get more value when investing in palladium bars and coins. Start building your portfolio today with Metals Radar.