Palladium Price per Gram and Ounce | Forecast

Long-term investors may be attracted by the fluctuating price of this precious metal. It is driven primarily by the automotive industry, which consumes approximately 85% of all palladium production.

Current palladium price per gram/ounce/kg

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Historical prices

What is palladium and how is it used?

Palladium (chemical symbol Pd) is a precious metal characterised by very high reactivity. It is greyish-white and malleable. One of palladium’s main properties is its strong catalytic ability. It is therefore used, for example, to manufacture catalytic converters commonly fitted to cars. Palladium is also used in jewellery. When combined with gold, it forms an alloy known as white gold, which is very popular in modern jewellery.

Global palladium production

Palladium production is dominated by two countries, Russia and South Africa. Total annual output was around 190 tonnes in 2025. Russia accounted for approximately 84 tonnes, or around 44% of global production, with Nornickel being the country’s main producer. South Africa contributed approximately 70 tonnes, or about 37%. Palladium is also mined on a smaller scale in Canada, at around 17 tonnes per year, as well as in the United States and Zimbabwe.

The market remains tight. The deficit for 2025 is estimated at around 415,000 ounces, meaning that demand exceeds supply and continues to support the price over the long term.

Historical palladium price performance

Palladium is one of the commodities whose price has experienced significant fluctuations in recent decades. This precious metal has undergone particularly deep corrections during economic crises. Palladium can therefore be highly volatile.

The historical palladium price chart contains several notable periods. Between November 1996 and January 2001, the price of this commodity rose sharply from approximately USD 120 to USD 1,050 per ounce. The metal experienced a similarly steep rise after 2016, when palladium reached a local low of around USD 480 per ounce. A bull market followed, driving the price to an all-time high of around USD 3,440 per ounce in March 2022. Russia’s invasion of Ukraine was behind this peak, as Russia is the world’s largest palladium producer and the market feared supply disruptions.

This record was followed by a steep decline. In 2024, the price fell to a multi-year low of around USD 830 to USD 900 per ounce. The market stabilised in 2025, and palladium recovered towards levels above USD 1,300 in 2026. When this article was updated in July 2026, the price stood at around USD 1,325 per ounce.

During economic crises, including those in 2001 and from 2007 to 2008, palladium tended to fall in price, often very sharply. Unlike gold, palladium is therefore not a traditional store of value into which investors move their money in search of a safe haven during an economic crisis.

Future palladium price outlook

In the short term, the slower adoption of fully electric cars is supporting demand for palladium. Hybrid vehicles still require catalytic converters, which are palladium’s main application. There is also the risk of sanctions affecting Russian supplies, which could push the price higher again.

Over the long term, however, the outlook is more bearish. The continuing electrification of transport means that the number of cars with internal combustion engines will decline, along with demand for catalytic converters. Much depends on how quickly the transition to electric vehicles actually takes place, which is currently difficult to estimate.

How to trade palladium

Palladium is traded in troy ounces. Ounces are commonly used as a unit of weight for precious metals. One troy ounce is equal to 31.1 grams.

Palladium is traded on commodity exchanges. One of the best known is the Chicago Mercantile Exchange in the United States, abbreviated as CME. Palladium is typically traded through futures contracts, each of which has an expiry date in a specific calendar month. Selected online brokers also offer palladium trading through CFDs.

If you prefer tangible investments, you can buy physical bars of this metal. The process is similar to buying physical gold or silver. The only differences are the price per gram or ounce and the availability of palladium from UK dealers.

As palladium remains a relatively unusual investment, not all precious metal dealers offer it. The price of a one-ounce bar is based on the metal’s current market price, which is around USD 1,325 per ounce.

What affects the price of palladium

The price of palladium is strongly influenced by demand from the automotive industry, much like the price of lithium. If the production of cars with internal combustion and hybrid powertrains continues, this may also affect the price of the commodity.

During an economic crisis, such as the one experienced from 2007 to 2008, demand for new cars falls significantly, reducing demand for palladium as well. On the other hand, increasingly strict environmental standards in Europe and worldwide mean that petrol, diesel and hybrid cars require high-quality catalytic converters made using palladium.

Electronics manufacturers also provide stable demand for palladium, as the metal is used in electronic connections.