Palladium Price in 2020

In 2020, the price of palladium averaged $2,193 per troy ounce, up 42.7% from the year before. This page covers the 2020 average, high, low, and year-end close, the events that moved the market, and what that palladium would be worth in today's dollars.

2020 Average

$2,193

Annual average, USD/oz

Change vs 2019

+42.7%

from $1,537 in 2019

2020 High

$2,880

from daily trading data

2020 Low

$1,494

from daily trading data

Year-End Close

$2,446

last trading day of 2020

What happened to the palladium price in 2020

Palladium averaged $2,193 per troy ounce in 2020, climbing 42.7% from the $1,537 average of 2019. Daily trading data shows palladium moved between a low of $1,494 and a high of $2,880 during the year, ending 2020 at $2,446. The defining story of 2020: All-time-high run; hit ~$2,875 (Feb) then COVID dip and rebound; supply still in deficit.

The 2020s saw palladium hit record highs above $2,800, including an all-time high near $3,440 in March 2022 on Russia-sanctions fears, before a sharp decline as electric-vehicle adoption began eroding gasoline-catalyst demand.

Adjusted for inflation, palladium's 2020 average of $2,193 equals about $2,731 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 2020?

Palladium averaged $2,193 per troy ounce in 2020, based on LBMA and USGS annual average data. Daily prices ranged from a low of $1,494 to a high of $2,880, and the year closed at $2,446. That average was up 42.7% from $1,537 in 2019.

What is a 2020 palladium price worth in today's dollars?

Adjusted with the US Consumer Price Index, palladium's 2020 average of $2,193 works out to roughly $2,731 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 2020?

The defining story of 2020: All-time-high run; hit ~$2,875 (Feb) then COVID dip and rebound; supply still in deficit. Against that backdrop, the annual average climbed 42.7%, from $1,537 in 2019 to $2,193.

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.