Current Palladium Price and Palladium Rate with Charts & Calculators
Palladium has evolved from a niche metal into one of the most expensive precious metals in the world — driven by massive demand from the automotive industry for gasoline catalytic converters. Over 80% of global production comes from Russia and South Africa, making the palladium price particularly susceptible to geopolitical risks and supply disruptions. On this page you will find the current price in euros and US dollars with live updates. The interactive chart shows price development across all time frames, complemented by the performance table and seasonality analysis. In the guide below, we examine the close link between palladium and the auto industry, the growing supply deficit, substitution by platinum and the various ways to invest in palladium.
Here you see the current Palladium price per troy ounce (31.1 g) in your selected currency, including daily change in percent and absolute.
Below you find the current exchange rate and the price in the second currency. At the bottom are the prices per gram, troy ounce and kilogram.
Tip: When the market is open, the price updates automatically every minute.
Palladium price details →
Source: Spot
Look up the Palladium price for any date in the past. You will see open, high, low, and close prices as well as the price per gram and kilogram.
Tip: Select a date and a source (LBMA Fix = official daily fixing, Spot = market price). If no trading took place on your selected day, the nearest available rate will be shown.
| 29/05/2026 | EUR | USD |
|---|---|---|
| Open | 1,173.99 € | 1,367.94 $ |
| High | 1,191.24 € | 1,390.94 $ |
| Low | 1,156.40 € | 1,348.83 $ |
| Close | 1,165.12 € | 1,358.61 $ |
Source: Spot
The chart shows the price development of the Palladium price over the selected period. Move your mouse over the chart to see the exact price on a specific day.
Select the time period above (Today to Max). You can zoom into an area with your mouse. The statistics cards below show high, low, and change for the selected period.
Tip: In the "Today" period, you can see intraday data with per-minute resolution.
(31.05.26)
(30.05.26)
(31.05.26)
(31.05.26)
(07.03.22)
Here you can see the current palladium price converted to different weight units: gram, troy ounce (31.1 g) and kilogram.
The second row shows the price in the other currency for comparison.
Tip: A troy ounce is the international trading unit for precious metals and equals 31.1035 grams.
1 Troy Ounce = 31.1035 Grams
This table shows the current price per gram for various Palladium alloys. The fineness indicates how much pure Palladium is contained in 1000 parts.
Example: : 750/1000 means 75% pure Palladium (for gold this equals 18 carat). The price per gram is calculated according to the fineness.
| Fineness | Carat | Price / Gram |
|---|---|---|
| 500/1000 | — | 18.73 € |
| 950/1000 | — | 35.59 € |
| 999/1000 | Fine Palladium | 37.42 € |
| 999.5/1000 | Fine Palladium | 37.46 € |
The performance table shows how the Palladium price has developed over various time periods: from today to 5 years.
You can see the absolute change in both currencies as well as the percentage change. Green values indicate gain, red values indicate loss.
Tip: Compare the EUR and USD performance to identify the impact of the exchange rate.
| Period | EUR | % EUR | USD | % USD |
|---|---|---|---|---|
| Today | +0.00 € | +0.00 % | +0.00 $ | +0.00 % |
| 7 Days | +12.76 € | +1.11 % | +14.87 $ | +1.11 % |
| 30 Days | -145.52 € | -11.10 % | -169.70 $ | -11.10 % |
| since Jan 1 | -291.00 € | -19.98 % | -339.34 $ | -19.98 % |
| 1 Year | +333.45 € | +40.09 % | +388.84 $ | +40.09 % |
| 5 Years | -1,264.31 € | -52.04 % | -1,474.34 $ | -52.04 % |
The seasonality chart shows the average monthly return of the Palladium price over the last 20 years.
Green bars show months with historically positive returns, red bars months with negative returns.
Tip: Seasonality only shows historical averages and is no guarantee for the future.
The calendar shows the daily price change of the Palladium price as a heatmap. Each cell represents a trading day (Monday to Friday).
Green cells = price increase, red cells = price decrease.
Hover over a cell to see the exact price and change on that day.
Here you can find a quick overview of the current prices of the other precious metals. The percentage shows the daily change.
Tip: Click on a metal to go directly to its detail page.
What Is the Palladium Price?
The palladium price indicates the current market value of one troy ounce (31.1035 grams) of palladium. Palladium belongs to the platinum group metals (PGMs) and was discovered in 1803 by the English chemist William Hyde Wollaston in London. He named the element after the recently discovered asteroid Pallas. With a density of just 12.02 g/cm³, palladium is the lightest of all platinum group metals — significantly lighter than platinum (21.45 g/cm³) — and has the lowest melting point of the group at 1,554.9 °C.
The reference price is the LBMA Palladium Price, fixed twice daily by the London Bullion Market Association — at 9:45 AM (AM fixing) and 2:00 PM (PM fixing) London time. These fixings are determined electronically via an auction process and serve globally as the official settlement basis for palladium contracts, industrial procurement, and ETF valuations.
A distinctive feature of palladium: it is recovered almost exclusively as a by-product of nickel and platinum mining. Dedicated palladium mines virtually do not exist. Over 80% of global production comes from the nickel ore deposits in the Russian Arctic (Nornickel) and the platinum reefs in South Africa. This concentrated supply structure makes palladium the most geopolitically vulnerable of all precious metals.
Spot Price and Trading Venues
In addition to the London OTC (Over-the-Counter) market, palladium is traded on several international exchanges:
- ◆ NYMEX/COMEX (New York) — Palladium futures (contract size: 100 oz), the most liquid futures market worldwide
- ◆ London — OTC spot market with physical delivery from LBMA-accredited vaults
- ◆ TOCOM (Tokyo) — An important Asian trading venue, with contracts denominated in yen per gram
- ◆ Zurich — A major physical trading hub; Swiss refineries (Valcambi, PAMP) produce bars and semi-finished products
The spot price is quoted in US dollars per troy ounce and traded around the clock — from Sunday evening (New York time) to Friday evening. On this site, we display the current spot price in real time, converted into euros, Swiss francs, and British pounds.
Palladium Price History at a Glance
No precious metal has written as dramatic a price history in recent decades as palladium. From niche metal to briefly the most expensive precious metal in the world — and back again: the palladium price trajectory resembles a roller coaster ride, driven primarily by the automotive industry and geopolitical disruptions.
From Niche Metal to the Most Expensive Precious Metal — and Back
The palladium story is unique among the precious metals. While gold and silver have served as stores of value for millennia and platinum was considered "the rich man's gold," palladium was a scarcely noticed industrial metal until the 1990s. Only the explosive growth in demand for petrol catalytic converters combined with a structurally tight supply from just two countries (Russia and South Africa) created the conditions for one of the most spectacular commodity price surges in history.
Between 2016 and 2022, the palladium price rose by nearly 600% — a return that hardly any other commodity matched during that period. Yet just as quickly as palladium ascended, it is now losing significance: the electrification of the automobile is fundamentally challenging the raison d'etre of its most important demand driver.
Historical Milestones
The historical price calculator for palladium is based on the LBMA Palladium Price, which — like platinum — is fixed twice daily: the AM Fix at 9:45 AM and the PM Fix at 2:00 PM London time. The electronic fixing is conducted through the London Metal Exchange (LME) and serves as the global reference for palladium contracts and ETF valuations. Due to lower market liquidity compared to gold and silver, the fixings can deviate more significantly from the intraday spot price on volatile days.
The central historical date in the palladium market is 7 March 2022: on that day, palladium reached its all-time high of $3,440/oz, triggered by fears of supply disruptions from Russia following the start of the Ukraine war. The price calculator makes the dramatic price movement traceable — from the pre-war level around $2,400/oz to the peak in just a few days, followed by an equally rapid decline. Another historically significant date is January 2001, when palladium first exceeded the $1,100 mark because Ford Motor Company panic-purchased long-term supply contracts with Russia — only to write off billions later when supply normalised.
For palladium investors, the historical price comparison is indispensable because the extreme price swings of this metal are nearly impossible to contextualise without historical reference. Between 2016 (approx. $500/oz) and 2022 ($3,440/oz), there was a factor of nearly 7 — and from the high to current levels, a decline of over 70%. Such movements are inconceivable for gold and make the date comparison an essential analytical tool. The calculator is also relevant for tax calculations: for physical palladium, the speculation period under Section 23 of the German Income Tax Act (EStG) applies, and the exact purchase price on the date of acquisition determines the tax liability for a sale within the one-year holding period. The parallel display in USD and EUR is particularly illuminating for palladium, as the high base volatility sometimes amplifies the exchange rate effect and sometimes overshadows it.
Palladium Price by Weight and Unit
Compared to gold and silver, the range of physical palladium investment products is significantly more limited. Most dealers carry only a handful of bar and coin formats. The reason: the relatively small market and dominant industrial demand leave little room for a broad product range.
- ◆ 1 oz Bars (31.1 g) — The standard product for private investors, manufactured by Heraeus, Umicore, PAMP, and Valcambi. Purity: 999.5/1000.
- ◆ Canadian Palladium Maple Leaf — The world's best-known palladium coin, minted by the Royal Canadian Mint since 2005. Fineness: 999.5/1000, face value 50 CAD.
- ◆ Russian Ballerina (Russia, historical) — Palladium coins from the Soviet Union and Russia, minted between 1988 and 1995. Now sought-after collector's items.
- ◆ 1 oz to 10 oz Bars — Larger denominations for well-capitalised investors. Due to low demand, often available only on order.
Note: Unlike gold and silver, where hundreds of different coin and bar formats exist, the selection for palladium is very limited. The trading premiums are significantly higher than those for gold — often 8–15% above the spot price — due to low demand and small-batch production.
Troy Ounce Converter
1 troy ounce = 31.1035 grams
Common Investment Products
Key Drivers of the Palladium Price
The palladium price is determined by a unique combination of industrial demand, geopolitical risks, and technological change. Unlike gold, which is primarily driven by monetary policy and investor sentiment, palladium is a pure industrial metal — and therefore extremely sensitive to the economic cycle.
Automotive Industry: The Dominant Factor
Over 80% of global palladium demand comes from the automotive industry — specifically from the use in three-way catalytic converters for gasoline engines. These catalytic converters transform the toxic exhaust components carbon monoxide (CO), nitrogen oxides (NOx), and unburned hydrocarbons into harmless substances (CO2, N2, H2O). Palladium is the preferred catalyst for gasoline engines, while platinum traditionally dominates in diesel engines.
The tightened emission standards in recent years — Euro 6d in Europe, China 6 in China, Tier 3 in the United States — required higher palladium loading in catalytic converters, causing demand to surge from 2016 onward. At the same time, gasoline's market share in Europe grew at the expense of diesel following the VW diesel scandal in 2015.
Electric Vehicles: The Existential Threat
Battery electric vehicles (BEVs) require no catalytic converter — and therefore no palladium. With every percentage point that BEV market share increases, structural palladium demand declines. In China, the BEV/PHEV share of new car registrations already exceeds 35% (2024), while in Europe it stands at around 20%.
Warning: Palladium is the precious metal facing the greatest structural demand decline. Even if the transition to electric mobility proceeds more slowly than expected, internal combustion engine sales will decline continuously over the coming decades. For long-term investors, this represents a fundamental risk that does not exist with gold or silver.
Substitution by Platinum
Given the price differential between palladium and platinum, automakers and suppliers such as BASF and Johnson Matthey are actively working on substituting palladium with platinum in gasoline catalytic converters. Since platinum has at times cost less than one-third of the palladium price, the economic incentive is enormous.
Technically, substitution is challenging: palladium is more stable at high temperatures than platinum and is less prone to oxidation. Nevertheless, several manufacturers have developed so-called tri-metal catalytic converters that use a blend of palladium, platinum, and rhodium, reducing the palladium content by up to 50%. This development further depresses palladium demand.
Russia: Geopolitical Supply Risk
Nornickel (formerly Norilsk Nickel) is by far the world's largest palladium producer, accounting for approximately 40% of global supply. Its mines are located in the Arctic city of Norilsk on the Taimyr Peninsula — one of the most remote and environmentally polluted industrial regions on Earth. Palladium is extracted there as a by-product of nickel and copper mining.
Following Russia's invasion of Ukraine in February 2022, palladium prices surged to record levels as the market feared sanctions against Nornickel. Although direct sanctions against Nornickel have not materialized to date, self-sanctions by Western buyers, insurance complications, and logistics bottlenecks have permanently altered trade flows. Russian palladium is increasingly flowing to China and India rather than Europe.
South Africa: Second-Largest Producer
South Africa produces approximately 35-40% of the world's palladium, primarily as a by-product of platinum mining. The major producers are Anglo American Platinum (Amplats), Impala Platinum (Implats), and Sibanye-Stillwater. South African production suffers from chronic challenges: load shedding (power outages due to the ailing energy infrastructure of Eskom), rising operating costs, labor disputes, and increasing mine depths. These supply risks provide a floor for the palladium price on the downside.
Palladium Performance and Seasonality
Performance Table
Go to TableThe performance table for palladium displays by far the most extreme fluctuations among all four precious metals. Daily changes of 2–4% are the norm for palladium, and on an annual basis, returns of +50% or −40% can occur. This volatility is a direct consequence of the extremely small market: with annual production of only about 210 tonnes (compared to 3,600 tonnes for gold), even moderate capital inflows or outflows are sufficient to move the price noticeably. The performance figures therefore reflect not only fundamental shifts in supply and demand but also the thin market liquidity.
The comparison between EUR and USD performance is of lesser practical importance for palladium than for gold, since the base volatility of the palladium price overshadows the exchange rate effect in most time periods. If palladium rises or falls 3% in a single day, the difference between EUR and USD returns (typically 0.1–0.3 percentage points) is barely noticeable. Nevertheless, the 5-year column in both currencies is worth examining: over longer periods, the cumulative exchange rate effect can amount to several percentage points of return difference, even for palladium.
When interpreting the performance figures, the structural headwind from electric mobility must be considered: a strong short-term price increase (Today, 7 Days) may be driven by geopolitical news from Russia or short-term supply disruptions, without changing the long-term downward trend in demand. The 1-year and 5-year returns should therefore be interpreted in the context of the overarching trend: from its all-time high of $3,440/oz (March 2022), palladium has lost over 70% — a decline that reflects the structural shift away from the internal combustion engine and should not be lost from sight during short-term recoveries.
Seasonality (20 Years)
Go to ChartThe monthly seasonality of the palladium price is more tightly linked to a single industry than any other precious metal: the global automobile production. The first quarter (January to March) historically shows the strongest performance. The reason: automakers and their suppliers systematically build up inventories at the start of the year to ramp up production for the current model year. Catalytic converter manufacturers place their largest palladium orders during this phase. At the same time, Russian and South African mine deliveries are often still reduced in January — in Russia due to extreme Arctic cold in Norilsk, and in South Africa due to the after-effects of holidays and maintenance work.
The third quarter (July to September) is the weakest phase in the palladium annual cycle. In Europe and North America, factory shutdowns take place: the major automobile plants close in summer for two to four weeks, and catalytic converter demand drops noticeably. In North America, the so-called model year changeover adds to this — the phase when plants retool from one model year to the next. During this transition, production partially halts and palladium demand reaches its seasonal low. At the futures markets, thinner summer trading volumes amplify price swings in both directions.
The recovery in the fourth quarter is driven by the restart of production after summer shutdowns and year-end production pushes. Automakers increase output to meet annual sales targets and build up new vehicle inventory for the coming year. Simultaneously, speculative market participants and hedge funds position themselves for the following year, which can generate additional buying impulses. The tight linkage to automotive production cycles, however, also means that macroeconomic shocks — such as the COVID-related factory closures in spring 2020 — can completely override the seasonal pattern. Palladium investors should therefore always keep an eye on global automobile production figures alongside seasonality.
Performance Calendar (Heatmap)
Go to CalendarThe performance calendar for palladium displays by far the most contrasted and extreme colour pattern among all precious metals. Daily price swings of ±2 to 3% are not the exception but the rule, and on particularly volatile days, movements of 5% or more can occur. In the calendar, this manifests as a concentration of deep green and deep red cells that far exceed the intensity seen in gold or platinum. This extreme dynamism is a direct consequence of the thin market: the annual production volume of only about 210 tonnes and low ETF liquidity mean that even moderate capital inflows or outflows can noticeably move the price.
Particularly conspicuous are the extreme clusters triggered by Russia-related news. Since Nornickel, as the world's largest palladium producer, controls approximately 40% of global supply, geopolitical developments — new sanctions threats, logistics problems in the Arctic, diplomatic tensions — can create abrupt colour shifts in the calendar. In March 2022, following the start of the Ukraine war, the calendar was dominated for weeks by extreme green and red cells as the market swung between panic buying and profit-taking. Such phases are inconceivable at this intensity in the platinum or gold calendar.
For palladium investors, the performance calendar is an indispensable volatility barometer. Phases with consistently moderate colours — i.e. low volatility — are historically rare for palladium and often precursors to a larger price move: the market is consolidating before the next impulsive phase begins. Conversely, weeks with wildly alternating green and red extreme cells signal a period of heightened uncertainty during which short-term trading is particularly risky. Those who regularly study the palladium calendar quickly recognise that this metal has a fundamentally different risk profile than gold — it is not a stability anchor but a highly volatile speculative instrument where discipline and risk management are paramount.
Investing in Palladium
Among the four classic precious metals, palladium is the most speculative investment. It has no monetary history, is not considered a safe haven, and its future depends largely on a single industry. Nevertheless, it offers opportunities for experienced investors — provided the unique risks are fully understood.
Physical Palladium: Bars and Coins
Purchasing physical palladium bars and coins is possible but comes with significant drawbacks:
- ◆ 19% VAT on all physical palladium purchases (unlike gold, which is VAT-exempt)
- ◆ High dealer premiums of 8-15% above spot price
- ◆ Limited product selection and low market liquidity when reselling
- ◆ Lower recognition among precious metals dealers — not every dealer will buy back palladium
Physical palladium is therefore primarily suited for experienced collectors and investors who deliberately wish to take a niche position and are willing to accept the higher costs.
Palladium ETCs
Exchange Traded Commodities (ETCs) offer a more cost-effective way to access the palladium market without the disadvantages of physical ownership:
- ◆ WisdomTree Physical Palladium (PHPD) — Physically backed, stored in London vaults, TER 0.49%
- ◆ Aberdeen Standard Physical Palladium Shares ETC (PALL) — US-listed, physically backed
- ◆ Xtrackers Physical Palladium ETC — European ETC with physical backing
The liquidity of palladium ETCs is significantly lower than that of gold or silver ETFs. Bid-ask spreads of 0.3-0.8% are common, compared to often less than 0.05% for gold ETCs. This should be taken into account when pursuing short-term trading strategies.
PGM Mining Stocks
Since there are very few pure palladium mines, investors gain exposure through PGM producers for which palladium represents a significant share of revenue:
- ◆ Nornickel (GMKN) — World's largest palladium producer, but as a Russian company virtually uninvestable for EU investors
- ◆ Sibanye-Stillwater (SSW) — South African company with US palladium mines (Stillwater, Montana) and South African PGM operations
- ◆ Impala Platinum (IMP) — One of South Africa's largest PGM producers with a significant palladium share
- ◆ Anglo American Platinum (AMS) — Largest platinum producer, also mines substantial palladium as a by-product
Palladium vs. Other Precious Metals
Compared to gold, silver, and platinum, palladium occupies a unique position:
- ◆ No monetary history: Palladium has never been used as a coinage metal or monetary standard
- ◆ No safe-haven status: In crises, palladium typically falls with equity markets as industrial demand collapses
- ◆ Highest industrial dependency: Over 80% of demand comes from a single sector (automotive)
- ◆ Greatest volatility: Annual fluctuations of 30-50% are normal
- ◆ Structural headwinds: Long-term demand decline driven by electric mobility
Important: Palladium is not a safe haven. Those seeking inflation protection or crisis hedging are better served by gold. Palladium is a speculative bet on the future of the internal combustion engine and geopolitical supply risks. It is suitable at best as a small allocation within a diversified commodities portfolio.
Palladium Alloys and Purity
Palladium is used in various purity grades and alloys — from high-purity investment bars to specialised industrial alloys. Unlike gold or silver, the range of palladium alloys is largely concentrated in the jewellery and industrial sectors.
- ◆ Pd 999.5 — Investment grade: purity for bars and bullion coins. The LBMA requires a minimum of 999.5/1000 for Good Delivery bars.
- ◆ Pd 950 — Fine jewellery: 95% palladium, 5% ruthenium or copper. Used in the jewellery industry as a hypoallergenic alternative to white gold. Palladium 950 rings are lighter, a purer white, and do not cause nickel allergies.
- ◆ Pd 500 — Jewellery alloy: 50% palladium, frequently alloyed with silver and copper. A more affordable alternative for the jewellery sector.
- ◆ White Gold Alloys — Palladium is increasingly replacing nickel in white gold alloys (e.g. Au750/Pd130), as it does not trigger allergic reactions and provides a naturally white appearance without rhodium plating.
- ◆ Dental Alloys — Historically a significant application: palladium-silver and palladium-copper alloys for crowns and bridges. Due to rising palladium prices and the trend towards ceramics, this market is in sharp decline.
- ◆ Electronics (MLCC) — Multilayer Ceramic Capacitors use palladium in their internal electrode layers. Every smartphone contains hundreds of MLCCs — a growing, albeit small, demand driver.
Taxes on Palladium in Germany
The tax treatment of palladium differs fundamentally from gold and makes physical investments considerably more expensive. Anyone considering investing in palladium should be fully aware of the tax implications.
Value Added Tax: 19% on Physical Palladium
Physical palladium is subject to the full 19% value added tax (VAT) in Germany. Unlike investment gold, which is VAT-exempt under Section 25c of the German VAT Act (UStG), palladium enjoys no tax exemption. For palladium coins, the so-called margin taxation (differential taxation) may apply: in this case, VAT is calculated only on the dealer's margin rather than the full selling price. This reduces the tax burden to approximately 6-9% instead of the full 19%.
Tip: When purchasing palladium coins, look specifically for dealers offering margin taxation. The tax savings on a 1 oz coin can amount to several hundred euros. Alternatively, purchasing through a Swiss bonded warehouse avoids VAT entirely — though the palladium then remains stored abroad.
Holding Period and Capital Gains Tax
The taxation of capital gains depends on how the palladium investment is structured:
- ◆ Physical palladium (bars, coins): Classified as "other economic assets" under Section 23 of the German Income Tax Act (EStG), a one-year holding period applies. Gains from sales after more than 12 months are tax-free. Within the holding period: taxed at the personal income tax rate, with an annual exemption limit of 1,000 EUR.
- ◆ Palladium ETCs (physically backed): Subject to the flat-rate withholding tax (25% plus solidarity surcharge, plus church tax where applicable), regardless of holding period. No holding-period exemption. Exception: Some physically backed ETCs with a delivery entitlement are treated as physical palladium for tax purposes — individual case review is recommended.
- ◆ Mining stocks: Also subject to flat-rate withholding tax on capital gains and dividends, regardless of holding period.
Tax Consideration: Given the high per-ounce price and 19% VAT on physical palladium, many investors prefer the ETC route despite the flat-rate withholding tax. The VAT savings on purchase often outweigh the disadvantage of flat-rate capital gains taxation. Only with holding periods of several years and substantial price appreciation does physical palladium become the more tax-efficient option.