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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

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. 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. 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.