Palladium Price

The palladium price fluctuates continuously during market hours. See the live palladium price above for the current value per ounce.

Palladium prices are overwhelmingly driven by automotive demand, where it is used in gasoline vehicle catalytic converters to reduce harmful emissions. About 80% of palladium demand comes from this sector. Supply is concentrated in Russia (about 40%) and South Africa (about 35%), making it sensitive to geopolitical risk and mining disruptions.

Palladium peaked above $3,000/oz in 2022 due to supply fears from Russia-Ukraine sanctions. It has since declined as automakers accelerated substitution toward cheaper platinum in catalytic converters, electric vehicle adoption reduced combustion engine production, and increased recycling boosted secondary supply.

XPD/USD is the international spot benchmark for palladium priced in US dollars per troy ounce. The LBMA Palladium Price, set twice daily, is the key reference for physical settlements and contracts.

Battery electric vehicles (BEVs) do not use catalytic converters and therefore require no palladium. As the global auto fleet shifts toward electrification, long-term palladium demand is expected to decline. However, hybrid vehicles still use catalytic converters, and the transition timeline varies significantly by region.

Yes. Automakers have been developing and deploying tri-metal catalytic converters that partially replace palladium with platinum. This substitution accelerated when palladium prices far exceeded platinum. It is estimated that 1.5 million ounces of palladium demand could be displaced by platinum over the coming years.

Options include physical palladium bars and coins (less common than gold/silver), palladium ETFs such as Aberdeen Standard Physical Palladium Shares (PALL), PGM mining stocks (Sibanye-Stillwater, Nornickel), and NYMEX futures. Palladium's small, concentrated market makes it the most volatile of the four major precious metals.

Palladium is quoted per troy ounce internationally. One troy ounce equals 31.1035 grams. Divide the ounce price by 31.1035 for the gram price.

Our palladium price data is streamed once per minute from the XPD/USD spot rate during market hours. The chart updates automatically via a real-time connection.