Palladium Price in 2024

In 2024, the price of palladium averaged $984 per troy ounce, down 26.4% from the year before. This page covers the 2024 average, high, low, and year-end close, the events that moved the market, and what that palladium would be worth in today's dollars.

2024 Average

$984

Annual average, USD/oz

Change vs 2023

-26.4%

from $1,337 in 2023

2024 High

$1,250

from daily trading data

2024 Low

$809

from daily trading data

Year-End Close

$904

last trading day of 2024

Palladium Price Chart, 2005 to 2025

Annual average palladium price per troy ounce, 2005 to 2025, with 2024 marked.

What happened to the palladium price in 2024

Palladium averaged $984 per troy ounce in 2024, sliding 26.4% from the $1,337 average of 2023. Daily trading data shows palladium moved between a low of $809 and a high of $1,250 during the year, ending 2024 at $904. The notable development of 2024: Down ~27% y/y; falls back toward $1,000/oz on softer auto-catalyst demand.

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 2024 average of $984 equals about $1,011 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 2024?

Palladium averaged $984 per troy ounce in 2024, based on LBMA and USGS annual average data. Daily prices ranged from a low of $809 to a high of $1,250, and the year closed at $904. That average was down 26.4% from $1,337 in 2023.

What is a 2024 palladium price worth in today's dollars?

Adjusted with the US Consumer Price Index, palladium's 2024 average of $984 works out to roughly $1,011 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 2024?

The defining story of 2024: Down ~27% y/y; falls back toward $1,000/oz on softer auto-catalyst demand. Against that backdrop, the annual average fell 26.4%, from $1,337 in 2023 to $984.

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.