Palladium Price in 2008

In 2008, the price of palladium averaged $355 per troy ounce, down 0.6% from the year before. This page covers the 2008 average, high, low, and year-end close, the events that moved the market, and what that palladium would be worth in today's dollars.

2008 Average

$355

Annual average, USD/oz

Change vs 2007

-0.6%

from $357 in 2007

2008 High

$595

from daily trading data

2008 Low

$158

from daily trading data

Year-End Close

$187

last trading day of 2008

Palladium Price Chart, 1998 to 2018

Annual average palladium price per troy ounce, 1998 to 2018, with 2008 marked.

What happened to the palladium price in 2008

Palladium averaged $355 per troy ounce in 2008, essentially unchanged from $357 in 2007. Daily trading data shows palladium moved between a low of $158 and a high of $595 during the year, ending 2008 at $187. The notable development of 2008: Spiked to ~$588 (Mar) then crashed to ~$165 in the global financial crisis.

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 2008 average of $355 equals about $531 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 2008?

Palladium averaged $355 per troy ounce in 2008, based on LBMA and USGS annual average data. Daily prices ranged from a low of $158 to a high of $595, and the year closed at $187. That average was down 0.6% from $357 in 2007.

What is a 2008 palladium price worth in today's dollars?

Adjusted with the US Consumer Price Index, palladium's 2008 average of $355 works out to roughly $531 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 2008?

The defining story of 2008: Spiked to ~$588 (Mar) then crashed to ~$165 in the global financial crisis. Against that backdrop, the annual average fell 0.6%, from $357 in 2007 to $355.

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.