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
Every point on this curve is a recorded Palladium quote from the window you have chosen. Run the pointer along the line and the tooltip reveals the exact level reached on that particular trading day.
The buttons above switch the window, running from Today through to Max. Drag across a stretch of the curve to magnify it. Beneath the chart, three summary cards report the peak, the trough and the net move.
Tip: Choose Today and the series resolves down to a single reading per minute.
(24/08/26)
(21/08/26)
(23/08/26)
(23/08/26)
(07/03/22)
Name a date and the lookup returns what Palladium was worth on it: the opening and closing levels, the extremes reached in between, and the equivalent figures per gram and per kilogram.
Tip: Pick your date. Should London have been shut that day, the lookup falls back to the closest session it holds.
| 08/21/2026 | GBP | USD |
|---|---|---|
| Open | 973.66 £ | 1,328.56 $ |
| High | 997.90 £ | 1,363.88 $ |
| Low | 973.10 £ | 1,328.07 $ |
| Close | 983.95 £ | 1,342.49 $ |
Source: Spot
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Enjoying what you see and read?
We pour our heart into keeping preciousmetalprices.com fast, clean and free — no paywalls, no clutter, just reliable facts and live prices. If it helps you, the nicest way to say thank you is to pass it on. Every share helps a fellow investor discover us and keeps the project going. 💛
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 | — | 15.84 £ |
| 950/1000 | — | 30.09 £ |
| 999/1000 | Fine Palladium | 31.64 £ |
| 999.5/1000 | Fine Palladium | 31.67 £ |
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 | GBP | % GBP | USD | % USD |
|---|---|---|---|---|
| Today | -9.53 £ | -0.82 % | +0.00 $ | +0.00 % |
| 7 Days | +7.07 £ | +0.62 % | +19.22 $ | +1.45 % |
| 30 Days | +77.29 £ | +7.21 % | +100.55 $ | +8.10 % |
| since Jan 1 | -316.51 £ | -21.59 % | -355.51 $ | -20.94 % |
| 1 Year | +188.38 £ | +19.60 % | +229.19 $ | +20.59 % |
| 5 Years | -920.73 £ | -44.47 % | -1,055.26 $ | -44.01 % |
Twenty years of Palladium data, averaged calendar month by calendar month and condensed into a single bar chart.
Bars in green mark months that averaged a gain; those in red averaged a loss.
Tip: Averages describe the past. They carry no promise about the months ahead.
One square per trading session, Monday through Friday, shaded by the daily move in the Palladium price.
Sessions that closed up appear green, sessions that closed down appear red.
Point at a square to read the level and the move behind it.
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 is quoted per troy ounce, 31.1035 grams, in US dollars. Palladium is one of the platinum group metals, and it was isolated in London in 1803 by the English chemist William Hyde Wollaston, who named it after Pallas, an asteroid discovered the previous year. At 12.02 g/cm³ it is the lightest of the group by a wide margin — platinum runs to 21.45 g/cm³ — and it melts lowest too, at 1,554.9 °C.
The benchmark is the LBMA Palladium Price, set twice each day under the London Bullion Market Association at 9:45 am and 2:00 pm London time. Both fixings are conducted as electronic auctions and serve as the settlement reference for industrial contracts, physical trade and fund valuations worldwide.
One structural fact governs everything else about this market: palladium is recovered almost entirely as a by-product of nickel and platinum mining, and dedicated palladium mines scarcely exist. More than four-fifths of world output comes from the nickel deposits of the Russian Arctic and the platinum reefs of South Africa, a concentration that leaves the price more exposed to politics than any other precious metal.
Spot Price and Where It Is Made
Beyond the London over-the-counter market, palladium is dealt on several exchanges:
- ◆ NYMEX/COMEX (New York) — Futures of 100 oz apiece, the most liquid palladium market in existence
- ◆ London — Over-the-counter spot with physical settlement out of LBMA-approved vaults
- ◆ TOCOM (Tokyo) — The principal Asian venue, with contracts priced in yen per gram
- ◆ Zurich — A major hub for physical metal; the Swiss refiners turn out bars and semi-finished stock
The spot price runs in dollars per troy ounce and trades from Sunday evening New York time through to Friday evening. We show it here in real time and convert it into pounds sterling, euros and Swiss francs, so the figure can be read in whichever currency your records are kept.
Palladium Price History at a Glance
Few markets have written a price history this violent over the past thirty years. From obscure by-product to briefly the dearest precious metal on earth, and then most of the way back down again: the palladium chart reads like a fairground ride, propelled almost entirely by the motor industry and by geopolitical shocks.
From Industrial Afterthought to Dearest Precious Metal — and Back Again
Palladium's story has no parallel among the precious metals. Gold and silver have stored value for millennia and platinum was long marketed as the rich man's gold; palladium was an industrial afterthought until the 1990s. Only the surge in demand for petrol catalytic converters, meeting a supply structurally confined to two countries (Russia and South Africa), set up one of the most spectacular commodity runs on record.
Between 2016 and 2022 the metal gained close to 600 per cent, a return few commodities anywhere came near. The descent has proved just as brisk, because the switch to electric drivetrains is quietly removing the reason its largest customer ever bought the stuff.
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: palladium is bought as bars or non-sterling coins, which places it squarely within Capital Gains Tax at 18 % or 24 % of the gain, with no holding period to wait out and no legal tender relief to fall back on, so the exact price paid on the acquisition date — set against the £3,000 annual exempt amount — is worth documenting from the outset. 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
Set against gold and silver, the range of physical palladium products is thin. Most dealers keep a handful of bar and coin formats and no more, which follows from the market itself: it is small, industry takes most of the metal, and there is little room left for a retail product line.
- ◆ 1 oz bars (31.1 g) — The standard retail item, from refiners such as Heraeus, Umicore, PAMP and Valcambi. Fineness 999.5.
- ◆ Palladium Maple Leaf — The best-known palladium coin in the world, struck by the Royal Canadian Mint since 2005. Fineness 999.5, face value 50 CAD. Foreign coin, so no CGT relief here.
- ◆ Russian Ballerina (historical) — Soviet and Russian palladium issues struck between 1988 and 1995, now traded as collectors' pieces rather than as bullion.
- ◆ 5 oz and 10 oz bars — Larger lots for substantial positions. Demand is slight, so these are usually made to order rather than held in stock.
Before you buy: where gold and silver run to hundreds of coin and bar formats, palladium offers a mere handful. Premiums sit well above gold's, commonly 8 to 15% over spot, a consequence of short production runs and thin demand — and 20% VAT applies on top, since the investment relief covers gold alone.
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 TablePalladium's performance table shows the widest swings of the four precious metals by a comfortable margin. Daily changes of 2 to 4% are ordinary and annual readings of +50% or −40% are entirely possible. This follows from the size of the market rather than anything mysterious: annual output of roughly 210 tonnes, against something near 3,600 tonnes for gold, means even a modest reallocation of capital moves the price visibly. The figures in the table therefore reflect liquidity as much as fundamentals, which is a distinction worth holding on to.
The sterling versus dollar comparison matters less here than it does for gold, because palladium's own volatility simply drowns the currency effect over most horizons. When the metal moves 3% in a day, a currency difference of 0.1 to 0.3 percentage points disappears into the noise. The 5-year columns are the exception: cumulative exchange rate drift over that length of time can still amount to several percentage points of difference between what a British and an American holder has earned.
Any reading of these figures has to allow for the structural headwind from electrification. A sharp gain in the today or 7-day column may be nothing more than a Russian supply scare, leaving the long-run demand trajectory entirely unchanged. The 1-year and 5-year returns belong in that larger frame: from the record of $3,440 an ounce set in March 2022 the metal has surrendered more than 70%, a decline that reflects the retreat of the internal combustion engine and should not be forgotten during a short-lived bounce.
Seasonality (20 Years)
Go to ChartNo precious metal is tied so tightly to a single customer as palladium is to world vehicle production, and its seasonal pattern follows accordingly. The first quarter has historically been the strongest. Manufacturers and their suppliers rebuild inventory at the start of the year to support the current model year, and autocatalyst producers place their largest palladium orders in this window. Meanwhile January deliveries from Russia and South Africa are frequently reduced, in the Russian case by Arctic conditions at Norilsk and in the South African case by the hangover from the holiday period and maintenance shutdowns.
The third quarter, July to September, is the low point of the year. Across Europe and North America the summer plant shutdowns take hold, with the major assembly works closing for two to four weeks and catalyst demand dropping away noticeably. North America adds the model year changeover, the interval during which lines are retooled from one model year to the next; production pauses in part and palladium offtake reaches its seasonal floor. Thin summer volumes on the futures exchanges then exaggerate whatever moves do occur, in either direction.
The fourth-quarter recovery comes from plants restarting after the summer and from the year-end production push, as manufacturers chase annual sales targets and build stock for the new year. Speculative money and hedge funds position for the following year at the same time, which can add its own buying pressure. The very closeness of the link to assembly line schedules carries a warning, however: a macroeconomic shock, the plant closures of spring 2020 being the obvious case, will override the seasonal pattern completely. Anyone trading palladium on seasonality should be watching global vehicle output figures at least as closely as the calendar.
Performance Calendar (Heatmap)
Go to CalendarNo precious metal produces a harsher calendar than palladium. Daily swings of ±2 to 3% are the rule rather than the exception, and on a genuinely volatile day the grid records 5% or more. Deep greens and deep reds crowd together at an intensity gold and platinum never reach. The cause is structural: annual mine output of roughly 210 tonnes and thin exchange-traded liquidity mean even a modest flow of money in or out shows up as a disproportionate price move.
The most striking clusters trace back to Russia. Nornickel alone accounts for something near 40% of world supply, so a fresh sanctions threat, a logistics problem in the Arctic or a diplomatic reversal will reorder the grid within hours. After the invasion of Ukraine in March 2022 the calendar spent weeks in extremes, the market oscillating between panic buying and hurried profit-taking. Nothing of that intensity occurs in the platinum or gold grids.
Treat the calendar as a risk instrument rather than a trend indicator. Stretches of uniformly moderate colour are historically uncommon for palladium and often precede a larger move, the market coiling before the next impulse. Weeks of wildly alternating extremes signal the opposite: heightened uncertainty, in which short-term trading is punished quickly. Anyone reading this grid regularly soon accepts that palladium sits in a different risk class altogether. It is not a defensive holding, and position sizing matters more here than conviction does.
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:
- ◆ 20% VAT on every physical palladium purchase, where investment gold pays none
- ◆ 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 turns up in a narrower set of purities than gold or silver, running from bullion-grade bars down to some very specialised industrial mixtures. The useful range of palladium alloys sits almost entirely in jewellery and industry rather than in investment, which is the reverse of the pattern for the other precious metals.
- ◆ Pd 999.5 — Bullion grade for bars and coins. LBMA Good Delivery sets the floor at 999.5 parts per thousand.
- ◆ Pd 950 — The jewellery standard: 95% palladium with ruthenium or copper. Compulsorily hallmarked in the UK since 2010, it makes a lighter, whiter ring than white gold and provokes no nickel reaction.
- ◆ Pd 500 — Half palladium, generally with silver and copper. The budget end of the palladium jewellery market.
- ◆ Palladium white gold — Palladium has largely displaced nickel in white gold alloys such as Au750/Pd130, since it causes no allergic reaction and gives a genuinely white metal without plating.
- ◆ Dental alloys — Palladium-silver and palladium-copper for crowns and bridgework, once a substantial outlet. High metal prices and the move to ceramics have all but ended it.
- ◆ Electronics — Multilayer ceramic capacitors use palladium in their internal electrodes. Every mobile phone holds hundreds of them: a small demand line, but one that keeps growing.
Palladium and the UK Tax System
Palladium gets none of the concessions gold enjoys. It is taxed like any other commodity: VAT on the way in, Capital Gains Tax on the way out. For a metal that has swung between $1,000 and $3,400 an ounce inside four years, that combination deserves a hard look before you buy.
VAT: 20% on Physical Palladium
Physical palladium is standard-rated at 20%. The VAT exemption in Group 15 of Schedule 9 to the Value Added Tax Act 1994 is written for investment gold alone; palladium falls outside it entirely. Nor is there a margin scheme to fall back on: HMRC excludes precious metals from the VAT margin schemes outright (VATMARG02100), and VAT Notice 718, still cited for the opposite view, was withdrawn on 23 December 2021. The 20% therefore lands on the whole price, for a pre-owned coin exactly as for a new bar.
Worth checking: if a dealer quotes you a margin-scheme price on palladium, ask in writing which VAT treatment the invoice relies on — the guidance usually cited for it no longer exists. Leaving the metal in an overseas bonded vault keeps UK VAT out of the picture while it stays there, but the charge reappears in full as import VAT the moment you bring it home.
Capital Gains Tax on a Palladium Position
There is no reward for patience in the British system – no holding period turns a gain tax-free. Every route into palladium ends up in the same computation:
- ◆ Physical palladium (bars, foreign coins such as the Canadian Maple Leaf): a chargeable asset under the Taxation of Chargeable Gains Act 1992. None of it carries a sterling face value, so the legal tender exemption that keeps Sovereigns and Britannias outside Capital Gains Tax does not reach it. Gains above the annual exempt amount are charged at 18% or 24% depending on your income band.
- ◆ Palladium ETCs: securities, and chargeable in the same way – but VAT never arises, since you take no delivery of metal. Whether a given product may be held inside an ISA or a pension depends on the product; check the issuer’s documentation and current HMRC guidance rather than assuming it qualifies.
- ◆ Mining shares: chargeable gains on disposal, and dividends taxed separately as income – a different regime again, and one that brings company risk with it.
The arithmetic: physical palladium starts 20% behind because of VAT, and the exit is taxed no more kindly than an ETC. That is why most British investors who want palladium exposure at all take it through an exchange-traded product. Whatever you hold, gains are reported to HMRC through Self Assessment; the Annual Exempt Amount of £3,000 covers your total gains for the year, not each disposal separately.