View the live palladium spot price per troy ounce, gram, and kilogram. You can also see the 24-hour price trend for each weight. Below, you’ll find a full, interactive palladium price chart with historical pricing, and also view our popular palladium bullion product categories.
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Palladium Spot Price & Palladium Price Information
Although not common historically, palladium prices have recently climbed higher than both platinum and even gold in terms of fiat US dollar prices ongoing.
Just like the gold spot price, the platinum spot price, or the ongoing silver spot price… the palladium bullion market has a palladium spot price too.
This palladium spot price is the over the counter cost of one troy ounce of pure .999 fine palladium bullion at that particular moment typically measured in fiat US dollars. The palladium spot price is a key input for final retail or wholesale palladium bullion product prices ongoing.
Since this value of palladium spot prices fluctuates with time, it is an invaluable factor to consider when making palladium bullion investments.
However, the palladium spot price is not the exact going rate of an ounce of palladium when you buy palladium bullion products.
Palladium bullion dealers and the palladium mints (e.g. US Mint, Royal Canadian Mint, etc.) who make palladium bullion products both usually charge a palladium bullion product premium added to the ongoing palladium spot price to maintain their operating businesses.
Not only does SD Bullion display the current spot price of palladium, but we also clearly highlight our all in palladium bullion price and dealer premiums to ensure transparency and reflect the fact that our palladium bullion prices are respectively low and super competitive in our industry.
What Affects the ongoing price of Palladium?
Like all other precious metals, palladium prices depend on a variety of factors.
Unlike many popular precious metals that don’t see much industrial use, palladium is an essential cog in the huge wheel that is the automobile industry. It is widely used to reduce noxious fumes from vehicles that run on gasoline.
Especially since the Volkswagon diesel engine data-rigging scandal, the demand for palladium has eclipsed its main precious metal competitor in the automobile industry (i.e. platinum). Added to this somewhat recent market change is the fact that the LBMA, NYMEX, and palladium ETFs have dwindling palladium bullion inventories ongoing (i.e. palladium lease rates are climbing, signaling physical supply tightness and shortage).
Added to all this are the palladium investing fundamental facts that over 80% of all physical palladium bullion and ore comes from two nations which have both proven rather volatile politically over the last few decades: Russia & South Africa. As well, palladium ore is often merely the byproduct of nickel mining in Russia and platinum mining in South Africa.
New industrial uses, higher industry demand, fluctuations in forex prices of countries that supply palladium, trade sanctions on palladium supplying counties, and newer commercial uses are just some of the factors that affect the prices of palladium bullion.
Simply put, this palladium precious metal’s demand and supply in the market plays a key role in its ongoing fiat currency price reflection.
What is the long term Palladium Price History?
The former all-time palladium record price happened near the end of the dot-com bubble, circa 2001. This former record nominal fiat US dollar price high for palladium was of course recently eclipsed in 2018. But remember 2001 US dollars were arguably 2-3Xs stronger in general purchasing power. This latest palladium nominal price record peak could go exceptionally higher than where it is at the moment.
Palladium’s early 2018 and ongoing record price highs surpassed the old palladium record price which reached $1,094.00 oz USD in late January 2001.
On that same day, palladium’s fiat US dollar per troy ounce price was more than 4Xs the then gold price, almost 2Xs the platinum price, and over 250Xs the then silver price. Again the beginning of the 21st Century, the fiat US dollar was even stronger versus other fiat currencies and precious metals than it remains now.
Who sets the palladium spot price?
Palladium futures price discovery mostly occurs on the NYMEX (New York Mercantile Exchange) and it has a dramatic effect on ongoing palladium spot prices, that is until they are real physical palladium bullion shortages.
In 1994 the NYMEX, which also mostly influences the platinum spot price, merged with COMEX (which mostly influences gold and silver day-to-day price discovery currently).
Both futures contract exchanges are now divisions within its parent company, the CME Group. The same entity which today openly encourages non-US central banks to trade NYMEX palladium futures contracts, other critical price discovery futures contracts in various other precious metals, fiat currency FX contracts, and critical interest rate derivatives too all at a discount.
These aren’t mere allegations or unbacked ramblings, they are facts you can see for yourself on the NYMEX’s CME Group’s very own website.
The palladium spot price remains mostly determined by the NYMEX highest traded futures contracts and is an ongoing indicator of the supply and demand factors of the palladium market. The spot price changes constantly based on the price of short-term palladium futures contracts expiring with a few months time.
For context, the world now uses almost 10 million troy ounces of palladium every year.
So the NYMEX perhaps has little business dictating physical palladium prices.
Is Palladium a good investment?
Although all investments come with their share of market risks, shrewd bullion investors have learned to identify potential winners by minimizing risks and buying bullion for the long term. Let’s take a quick look at the palladium investment fundamental factors today.
Russia and South Africa are the chief producers of palladium in the world (over 80% of physical palladium ore comes from these two nations). All relatively stable countries like Canada and the USA that should also keep up a steady supply of palladium for many years to come.
Any commodity or precious metal that is driven purely by speculation should be seen as a high-risk proposition. The higher the number of applications (industrial, commercial, investment, speculative) a precious metal has, the safer the investment it is considered to be.
Palladium is widely used in the automobile industry – as a catalyst in gasoline-fueled car engines to reduce noxious fumes.
This palladium precious metal is used to also make jewelry and is used in dental amalgam and photography as well.
Add to this the recent surge of palladium bullion products from mints all over the globe, most notably the Palladium Eagle Coin from the US Mint – and you have a precious metal that is a popular investment option and also has broad commercial and industrial demand.
This ensures that the demand for palladium is not purely fueled by investors and speculators; there are indeed practical use for the palladium ongoing and is in substantial industrial and commercial demand outside the investor market, which gives it a solidity that many precious metals do not enjoy.
So yes, historically speaking, precious metals like palladium have seen a steady upward trend and it seems to have all the makings of a good investment asset for the long term.
In late September 2018, we spoke with Palladium and Precious Metal mining consultant about the ongoing physical Palladium shortage. Since that interview, the fiat US dollar price of palladium had risen +43% by middle March 2019.
Go to our Frequently Asked questions to know more about Palladium!