Palladium Price in 1970

Palladium averaged $38 per troy ounce in 1970, according to LBMA and USGS annual average data. Palladium was still a minor precious metal in 1970, used mainly in electronics and dentistry, years before three-way catalytic converters would make it one of the most important auto-catalyst metals. Pricing for these early years comes from USGS producer data and is less precise than the later LBMA series. The notable development of 1970: Pre-catalytic-converter era; palladium a minor industrial/dental metal.

In the 1970s palladium was still a minor precious metal used mainly in electronics and dentistry. It rode the decade's commodity booms and the 1979-80 precious-metals mania, but its defining demand driver, the automotive catalytic converter, was only just emerging.

Adjusted for inflation, palladium's 1970 average of $38 equals about $316 in today's dollars. The conversion uses US Bureau of Labor Statistics CPI-U annual averages, so treat it as a close approximation rather than an exact figure.