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

What happened to the palladium price in 2008

Palladium averaged $355 per troy ounce in 2008, essentially unchanged from $357 in 2007. 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. 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.