Palladium Price Charts & Historical Data
Palladium Price Charts | Updated Spot Price of Palladium
Palladium is a platinum-group metal that often acts as an investment vehicle. The spot price of palladium refers to the current market value of a given quantity of palladium, typically one troy ounce. The spot price of palladium can fluctuate constantly, so investors should understand the latest price of palladium in order to properly time their investments.
At the top of this page, find the latest updated price of palladium per troy ounce. You can also learn more about how palladium prices work on this page, including what drives the price of palladium, how to invest in palladium, and more.
This page is constantly updated to display the current spot price of palladium.
Palladium Spot Price Per Troy Ounce
You can find the current spot price of palladium per troy ounce at the top of this page. This figure fluctuates constantly to reflect the latest spot price of the precious metal, so be sure to check back frequently for the latest updated palladium price charts.
What is a Troy Ounce?
The spot price of palladium is typically quoted in troy ounces. Troy ounces are part of the Troy weight system, a system of weights primarily used for precious metals. A troy ounce equals approximately 1.09714 ounces.
To figure out the value of your palladium coins or bars, it may be easiest to convert the weight of your items into troy ounces first. By multiplying a palladium coin or bar’s weight in troy ounces by the current spot price of palladium, you can determine its approximate melt value.
How is the Spot Price of Palladium Determined?
Like other precious metals, the spot price of palladium is largely determined by supply and demand dynamics. When demand for palladium outpaces supply, prices are higher. And if the supply of palladium is significantly higher than demand for the metal, prices tend to be lower.
In practice, supply and demand for a precious metal like palladium are constantly fluctuating. Several events can drive demand for palladium, including:
- Demand from the automotive industry.
- New technologies that use palladium.
- Investor speculation.
Similarly, several factors can impact the global supply of palladium. Examples include:
- New mines opened/closed or palladium veins discovered.
- Geopolitical disruption (wars, embargoes, etc. impacting major palladium producers).
This is only a brief overview. Like any other asset, supply and demand dynamics for palladium can shift due to a wide range of factors.
Here’s What Drives the Price of Palladium
The spot price of palladium constantly fluctuates, and a number of factors play a role in driving the price of this precious metal.
Palladium is highly useful, making it one of the few precious metals with a price driven by a combination of industrial demand and investor speculation. With palladium coins and bars becoming more common among major mints each year, both demand for investment-grade palladium products and underlying demand for the useful metal can drive palladium prices higher.
Below, we’ll take a closer look at some of the big factors that drive demand for platinum.
Industrial Uses for Palladium
Palladium is useful in a variety of different industries. Most investors already know palladium’s use in catalytic converters, which accounts for more than 80% of the precious metal’s use in industry annually.
But in reality, palladium is an increasingly vital metal used in a wide range of industries for various purposes. Aside from catalytic converters for the automotive industry, palladium is highly useful for:
- Electronics and technology
- Clean energy
- Jewelry
- Dentistry and medicine
Global demand for platinum annually is estimated at 280-300 metric tons, making it a highly useful and in-demand precious metal. While more than 80% of platinum used annually ends up in catalytic converters, the growing green energy sector offers an increasingly vital use-case for the metal.
Speculating on the Price of Palladium
Like any other precious metal, demand for palladium is also driven by investor speculation. When institutional or retail investors believe that new technologies or heightened demand from certain industries may drive demand for palladium higher, they buy more of the metal, creating a cycle where demand begins to outpace supply.
While speculation in the palladium market is sometimes based on concrete trends and major industry developments, market speculation can be tricky to understand. At times, the spot price of palladium may be volatile as institutional and retail investors “bet” on futures for the metal.
Physical Palladium Coins and Bars
Physical palladium coins and bars are an increasingly popular investment vehicle. A growing number of private and public mints are producing precious metal products made out of palladium, and this metal’s combination of investment appeal and industrial usefulness makes it ideal for many investors.
Palladium’s current price also makes it a great option for investors who want a precious metal that is more affordable than gold. While platinum has historically been more valuable than gold, this trend has flipped in recent years. Now, platinum and palladium may be the ideal value buy for investors balking at sky-high gold prices.
In addition to investment-grade palladium coins and bars, palladium is sometimes used to make luxury jewelry. Offering a similar coloration to platinum but less shine, palladium is a strong choice for male engagement rings, chains, bracelets, and other pieces of jewelry.
Palladium Market Historical Price Charts and Trends
In the past three decades, palladium prices have ranged from as low as $82.75 per troy ounce to as high as $3,429.50/ozt, which is palladium’s highest price ever.
Historically, palladium prices have been driven by a combination of demand in the automotive sector and supply scarcity chiefly caused by sanctions imposed on major producers of the precious metal. Platinum’s all-time high of $3,429.50 per troy ounce, for example, occurred in March of 2022 during Russia’s initial invasion of Ukraine.
Below, we’ll take a closer look at palladium’s highest and lowest prices ever.
Highest Palladium Price Ever
The highest palladium price ever recorded was $3,429.50 per troy ounce, which happened on March 7th of 2022. This price spike was driven by ongoing supply concerns due to Russia’s invasion of Ukraine.
Russia is the world’s largest producer of palladium annually. With the outbreak of the Russia-Ukraine war in 2022, many investors and industry leaders feared that sanctions on Russia would reduce the country’s output of palladium.
The resulting price run drove palladium to more than $3,400 per troy ounce, outpacing gold’s price at the time and setting a new all-time high for palladium.
Prices have since retreated, as of 2026.
When Was Palladium Cheapest?
Palladium prices have fluctuated considerably over the past several decades, but the metal spent most of the 20th century valued at less than $1,000 per troy ounce. In fact, palladium’s lowest price ever was likely just $34 per troy ounce, which was its price in August of 1970.
More recently, palladium prices have fallen as low as $164 per troy ounce throughout the 2000s.
Investing in Palladium
Because of its affordability compared to gold, usefulness in a variety of industries, and beautiful look, palladium is a popular option for investors looking to get more involved with precious metals.
Investing in palladium typically takes two forms. First, many modern investors opt for physical palladium products, which include palladium bars, coins, and jewelry. Alternatively, some investors buy “paper” palladium, which describes palladium mining shares, ETFs, and other investable assets that don’t involve physically owning the metal.
Palladium Coins and Bars – Collecting and Investing
Palladium coins and bars are popular methods of investing in this precious metal. Most modern palladium bullion products are minted with 99.95% pure palladium, although this can vary from mint to mint.
Like any other physical precious metal, buying palladium coins and bars can come with both pros and cons. While physical palladium coins and bars are beautiful and highly collectible, you can expect to pay hefty premiums for brand new, investment-grade palladium coins and bars.
To cut down on precious metal premiums, try to target pure palladium bars, which tend to come saddled with lower premiums than the average sovereign palladium coin.
Best Way to Invest in Palladium
Should you invest in physical or paper palladium? Both approaches come with their own benefits and downsides. Below, we’ll take a closer look at the pros and cons of buying paper palladium versus physical palladium bullion bars and coins.
Paper Palladium vs. Physical Palladium
Paper palladium refers to palladium stocks, ETFs, futures, and nontraditional palladium assets like palladium mining stocks. Physical palladium, on the other hand, describes coins, bars, jewelry, and other palladium items made specifically for investors or collectors.
Physical palladium is a good option for investors who prefer full control over their assets. Owning physical precious metals reduces your counterparty risk, as you are fully in charge of the palladium coins and bars in your possession. Some collectors also appreciate the beauty and, in some cases, the rarity of a palladium coin or bar.
On the other hand, paper palladium can be a better choice if you’re concerned with minimizing premiums and maximizing your liquidity. Any time you buy physical precious metals, you’ll pay an additional fee over melt value called a premium.
While you may also need to pay fees to trade paper palladium assets, the high premiums charged for many palladium coins and bars could make paper palladium a realistic option for you.
Ultimately, only you can decide which method of investing in palladium is right for you and your investing goals.
Track the Latest Spot Price of Palladium- Hero Bullion
Find the current spot price of palladium at the top of this page. The spot price of palladium refers to the current market value of a single unit of palladium, generally one troy ounce. In practice, the cost of buying a troy ounce of palladium is typically higher than spot price, since dealers charge premiums for physical palladium.
Be sure to check back on this page to see the latest spot price of palladium, read about historical palladium price charts and data, and more.