Palladium Price in 1998

In 1998, the price of palladium averaged $290 per troy ounce, up 57.6% from the year before. This page covers the 1998 average, high, low, and year-end close, the events that moved the market, and what that palladium would be worth in today's dollars.

1998 Average

$290

Annual average, USD/oz

Change vs 1997

+57.6%

from $184 in 1997

What happened to the palladium price in 1998

Palladium averaged $290 per troy ounce in 1998, surging 57.6% from the $184 average of 1997. Annual moves of that size are rare and put 1998 among the most explosive years in the metal's modern history. The defining story of 1998: Russian supply disruptions drive a sharp rally.

The 1990s were dominated by Russian supply. Erratic exports from Russia's giant stockpile, which supplied much of the world's palladium, whipsawed prices from a decade low near $89 to a sharp late-decade rally as shipments were repeatedly delayed.

Adjusted for inflation, palladium's 1998 average of $290 equals about $573 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.

Frequently Asked Questions

What was the price of palladium in 1998?

Palladium averaged $290 per troy ounce in 1998, based on LBMA and USGS annual average data. That average was up 57.6% from $184 in 1997.

What is a 1998 palladium price worth in today's dollars?

Adjusted with the US Consumer Price Index, palladium's 1998 average of $290 works out to roughly $573 in today's dollars, using 2025 as the CPI base year. The conversion uses BLS CPI-U annual averages, so treat it as a close approximation rather than an exact figure.

What moved the palladium price in 1998?

The defining story of 1998: Russian supply disruptions drive a sharp rally. Against that backdrop, the annual average climbed 57.6%, from $184 in 1997 to $290.

Annual averages are USGS/Engelhard producer prices (1970 to 1988) and LBMA palladium prices (1989 to 2025) per troy ounce in US dollars. Where daily data exists, the per-year high, low, and close come from MetalCharts historical data. Inflation adjustments use BLS CPI-U annual averages.