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Palladium Price in 2022

In 2022, the price of palladium averaged $2,112 per troy ounce, down 11.9% from the year before. This page covers the 2022 average, high, low, and year-end close, the events that moved the market, and what that palladium would be worth in today's dollars.

2022 Average

$2,112

Annual average, USD/oz

Change vs 2021

-11.9%

from $2,398 in 2021

What happened to the palladium price in 2022

Palladium averaged $2,112 per troy ounce in 2022, down 11.9% from $2,398 the year before. The notable development of 2022: Spiked to record ~$3,440/oz on 7 Mar on Russia-sanctions supply fears, then fell.

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 2022 average of $2,112 equals about $2,326 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 2022?
Palladium averaged $2,112 per troy ounce in 2022, based on LBMA and USGS annual average data. That average was down 11.9% from $2,398 in 2021.
What is a 2022 palladium price worth in today's dollars?
Adjusted with the US Consumer Price Index, palladium's 2022 average of $2,112 works out to roughly $2,326 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 2022?
The defining story of 2022: Spiked to record ~$3,440/oz on 7 Mar on Russia-sanctions supply fears, then fell. Against that backdrop, the annual average fell 11.9%, from $2,398 in 2021 to $2,112.

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.