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

2022 High

$3,410

from daily trading data

2022 Low

$1,630

from daily trading data

Year-End Close

$1,782

last trading day of 2022

Palladium Price Chart, 2005 to 2025

Annual average palladium price per troy ounce, 2005 to 2025, with 2022 marked.

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. Daily trading data shows palladium moved between a low of $1,630 and a high of $3,410 during the year, ending 2022 at $1,782. 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. Daily prices ranged from a low of $1,630 to a high of $3,410, and the year closed at $1,782. 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.