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

Palladium Price Chart, 2005 to 2025

Annual average palladium price per troy ounce, 2005 to 2025, with 2020 marked.

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.