Palladium Price in 2002

In 2002, the price of palladium averaged $339 per troy ounce, down 44.2% from the year before. This page covers the 2002 average, high, low, and year-end close, the events that moved the market, and what that palladium would be worth in today's dollars.

2002 Average

$339

Annual average, USD/oz

Change vs 2001

-44.2%

from $608 in 2001

What happened to the palladium price in 2002

Palladium averaged $339 per troy ounce in 2002, collapsing 44.2% from the $608 average of 2001. The defining story of 2002: Price crashes as auto demand thrifts palladium; Ford writes off ~$1B stockpile.

The 2000s began with an extraordinary supply-crisis spike, as fears over Russian exports drove palladium to a record $1,094 fix in January 2001. The bubble then burst, and automakers thrifting and substituting away from palladium sent prices to multi-year lows before a mid-decade recovery.

Adjusted for inflation, palladium's 2002 average of $339 equals about $607 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 2002?

Palladium averaged $339 per troy ounce in 2002, based on LBMA and USGS annual average data. That average was down 44.2% from $608 in 2001.

What is a 2002 palladium price worth in today's dollars?

Adjusted with the US Consumer Price Index, palladium's 2002 average of $339 works out to roughly $607 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 2002?

The defining story of 2002: Price crashes as auto demand thrifts palladium; Ford writes off ~$1B stockpile. Against that backdrop, the annual average fell 44.2%, from $608 in 2001 to $339.

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.