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Historical ratio over selected time period
The gold-to-palladium ratio compares the world's primary safe-haven metal (gold) with palladium, a platinum group metal used extensively in gasoline vehicle catalytic converters. This ratio has seen dramatic swings as palladium demand surged.
Between 2018-2021, palladium actually traded above gold at times due to automotive demand and supply constraints from Russia and South Africa. The ratio helps investors understand the balance between investment demand (gold) and industrial demand (palladium). EV adoption may affect this ratio long-term as EVs don't require catalytic converters.
