The current price of Palladium is $33.69 per gram.

Please note that the price provided above is the retail price for private investors and is aligned with industry retail pricing. For bulk palladium purchases, whether investment or industry, please contact us directly for a quotation.

Table: Palladium Historical Prices and Price Changes

DatePalladium PriceChange % to TodayAnnual Change %
Feb 26 2024$33.69 / g
Jan 1 2024$41.29 / g–18.40%
Jan 1 2023$63.67 / g–47.08%-35.15%
Jan 1 2022$69.49 / g–51.52%-8.38%
Jan 1 2021$82.89 / g–59.36%-16.17%
Jan 1 2020$67.20 / g–49.86%+23.35%
Jan 1 2019$44.97 / g–25.09%+49.43%
Jan 1 2018$37.85 / g–10.99%+18.81%

 

Palladium Historical Price Movement

At today’s price of $33.69 per gram, palladium has changed –18.40% so far this year. Since the start of last year it has lost –47.08% and since Jan 1st 2022, it has lost –51.52%. Compared to its price of $67.20 per gram on Jan 1st 2020, palladium has lost –49.86% today. If we go back further to Jan 1st 2018, when the cost of one gram of palladium was $37.85, then this strategic precious metal’s price changed –10.99%.

In order to forecast palladium’s future price direction, let’s explore its various applications and where it’s produced (click here to jump to the forecast).

Palladium is a lustrous, silvery-white metal part of the platinum group metals. It’s known for its ductility, malleability, and ability to withstand oxidation and corrosion. It has the chemical symbol Pd and an atomic number of 46.

Palladium Uses

Palladium

Palladium’s primary use is in the automotive industry, where it plays a crucial role in manufacturing catalytic converters. These devices reduce the harmful emissions from vehicles, making palladium an essential element for environmental protection. Interestingly, about 85% of palladium’s demand comes from this sector, underlining its importance in automotive manufacturing.

Palladium could also be used in fuel cells as an electrode material and in hydrogen cars as a storage material for hydrogen in the future.

In the field of electronics, palladium is used in various components, such as multilayer ceramic capacitors, which are integral to consumer electronics. Its excellent electrical conductivity makes it valuable for plating electronic components.

Palladium also finds application in dentistry, where it’s used for dental alloys due to its biocompatibility and strength. These qualities make it an excellent choice for dental restorations and equipment.

In the jewelry industry, palladium is appreciated for its natural white color, which does not tarnish over time. Its use in fine jewellery, including rings and watches, has been increasing, offering an alternative to platinum and gold.

Where is Palladium Produced?

Russia and South Africa are the world’s largest producers of palladium, accounting for more than 80% of the worldwide production. These countries hold significant reserves of this strategic precious metal, thereby playing a critical role in its global availability and price. Canada, Zimbabwe, and the United States also contribute to global palladium production.

Since the pure palladium deposits are already largely exhausted, mining is concentrated on extraction together with other metals such as nickel, copper, lead, or platinum.

In 2022, global palladium production was approximately 210 metric tons, with a further 90 tons recovered via recycling, mainly from automotive catalysts, covering the annual demand. Demand has consistently outstripped supply in recent years, so the market has reacted with enormous price increases.

What Factors Determine the Price of Palladium?

A combination of supply and demand dynamics influences palladium prices. The automotive industry’s demand significantly impacts its price. As emission standards become more stringent globally, the demand for palladium in catalytic converters rises, pushing its price higher.

Supply-side factors include mining output from major producers like Russia and South Africa. Political and economic stability in these regions can greatly affect the availability and price of palladium. Additionally, the recycling rate of palladium from used catalytic converters also plays a role in determining its market price.

Palladium Price Forecast

The demand for palladium is expected to remain strong, primarily driven by the automotive industry’s need for catalytic converters, which are now also mandatory in China and India. As emission regulations become tighter worldwide, this demand is likely to increase, potentially pushing prices higher.

Palladium’s use in electronics and dentistry is also expected to grow, contributing to its steady demand. Technological advancements may open up new applications for palladium, further supporting its market value, while it could also benefit from a fuel cell boom.

However, supply challenges, including geopolitical risks and mining difficulties in key production regions, could lead to price volatility. This makes the palladium market susceptible to rapid changes, offering both risks and opportunities for investors.

Industry analysts consider palladium to be a valuable investment, especially given its growing demand in various sectors. However, investors should stay informed about market trends to effectively navigate the potential short-term fluctuations.

Palladium is currently at its lowest price in the past seven years. Considering the strong demand and geopolitical supply challenges, there should be considerably more upside than downside potential in the medium term.

How to Buy Palladium

Investors interested in palladium can purchase it in physical form, such as bars or coins. It’s crucial to ensure the authenticity and purity of palladium products, so buying from reputable dealers is recommended.

As one of the world’s leading metals dealers, our certified palladium meets the highest industry standards (min. 99.95% Major Brand), ensuring every ounce is genuine. We’re a pivotal intermediary trusted by all major industry buyers like BMW, Ford, and Honda. We also offer investors the option to safely store their palladium holdings in our high-security storage bunker.

Palladium futures contracts are another avenue for investment. These contracts allow investors to speculate on the future price of palladium, offering a way to hedge against market volatility. They can be traded on various commodity exchanges worldwide.

How to Sell Palladium

When selling palladium, verifying its purity is essential. Getting the metal assayed helps determine its value and assures potential buyers of its quality.

Partnering with a reputable dealer can simplify the selling process for those who own palladium, especially in large quantities or as part of an investment portfolio. Investors who buy and store their palladium holdings with us benefit from our strong industry connections, meaning they can quickly liquidate their assets at the best possible market rate.

All prices on this page last updated Feb 26 2024.