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Palladium Price in 2004

In 2004, the price of palladium averaged $233 per troy ounce, up 15.3% from the year before. This page covers the 2004 average and what that palladium would be worth in today's dollars.

2004 Average

$233

Annual average, USD/oz

Change vs 2003

+15.3%

from $202 in 2003

Palladium Price Chart, 1994 to 2014

Annual average palladium price per troy ounce, 1994 to 2014, with 2004 marked.

What happened to the palladium price in 2004

Palladium averaged $233 per troy ounce in 2004, climbing 15.3% from the $202 average of 2003.

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 2004 average of $233 equals about $398 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 2004?
Palladium averaged $233 per troy ounce in 2004, based on LBMA and USGS annual average data. That average was up 15.3% from $202 in 2003.
What is a 2004 palladium price worth in today's dollars?
Adjusted with the US Consumer Price Index, palladium's 2004 average of $233 works out to roughly $398 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.

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.