Palladium Spot Price Charts

Provident Metals Palladium

Most precious metals investors confine their interests to gold and silver. However, investors and collectors looking for something different can turn their attention to one of the other precious metals, like palladium.

Palladium is a whitish metal that is part of the platinum group of metals. Though only discovered in 1803, its rarity and striking luster have cemented its place among other precious metals. If you’re looking for a change of pace, palladium might be just the thing for you.

What is the Spot Price of Palladium?

The spot price of palladium is the market price associated with buying a troy ounce of palladium. Dealers and investors use the spot price as a basis for pricing when they move toward a deal.

Technically, the spot price of palladium is actually the price to buy a palladium futures contract with immediate delivery on the Commodity Exchange, or COMEX. However, for all intents and purposes outside of commodity traders, the spot price is the bedrock value of palladium at any particular moment.

Use this chart in conjunction with our gold spot price and silver price charts to track market trends.

Factors That Influence the Palladium Spot Price

Like any commodity, the spot price of palladium is a function of the supply and demand associated with the metal. Lower supply and higher demand tends to lead to price increases, while higher supply and lower demand portends a decrease. However, there are several factors that can affect one or both of these drivers in significant ways.

The first primary factor is the industrial demand for palladium, which can cause the total demand to increase or decrease significantly. Palladium is a key component of catalytic converters, so if you’re interested in palladium, you may keep an ear to the ground for any technological advances that call for the use of palladium.

Another factor is the geopolitical situation in the countries that produce the most palladium ore. Russia is the top producer in the world, and its dicey diplomatic relationship with the US could lead to palladium’s supply becoming a pawn – especially in a high-tariff trade war situation.

Finally, we cannot ignore the effect that the health of the economy can have on demand for palladium. For one thing, investors tend to seek out precious metals of all stripes in tough economic conditions but are less inclined during good times. On the other hand, people don’t buy as many new cars during tough times, so the demand for palladium-bearing catalytic converters may also decrease and take the spot price for palladium with it.

Palladium as an Investment

Palladium can be an excellent investment but is not for the faint of heart. Palladium is extremely volatile, and the fortunes of a palladium investor can change dramatically in a very short period.

How volatile is palladium? The spot price has either exceeded or approached $3,000/oz twice in the past five years – most recently in 2021 – but is now trading beneath $1,000/oz. The market’s fluctuations can present incredible opportunities, but with risks far greater than those associated with trading gold or silver.

One of the biggest reasons for palladium’s volatility is its low trading volume. Since it is more challenging to find buyers and sellers for palladium transactions, each trade has a more significant impact on the market.

So, palladium is a fine investment, but be sure to buckle your seatbelt. It can be a very wild ride.

Key Metrics for Palladium Investors

The first thing to examine is the spot price of palladium, as it gives you a good idea about the general going rate for a troy ounce of it. Try to look at several different timeframes, as you should know how the current spot price fits within the context of palladium’s historical valuation as well as its more recent performance.

You can also look at the gold-palladium ratio, which is a measure of the proportionality of the two metals’ spot prices at any given time. Because palladium is so volatile, there have been some tremendous swings in the ratio – gold has been as much as 7 times as valuable, but there have been times where palladium has actually been worth more than gold.

Thus, you can use extreme swings in the ratio to guide your investing. Historically, the average ratio has been roughly 2.5, but if you account for some of the variation, it’s safe to say that buying gold is best when the ratio is 1.5 or lower, while buying palladium is more warranted if it rises above 3.5.

Finally, make sure that you shop around and compare the premiums that dealers charge for like palladium products. All things equal, there is no reason to pay more unless you have concerns about the security and repute of the lower-priced precious metals dealer.

Is Palladium Eligible for IRAs?

Yes. Palladium can be eligible for placement into an individual retirement account, or IRA. You can add it as part of the IRA’s holdings provided that the palladium meets the IRS’ purity requirement.

The requirement is that palladium must be .9995 fine, or 99.95% pure palladium to qualify. However, remember that you are likely adding a bit of risk and volatility to your overall portfolio when you place palladium into it.

How to Sell Palladium

If you own some palladium and have decided to sell, you first need to check the current spot price. More specifically, you should obtain the recent range of spot prices to get a general sense of how palladium is trading.

That said, be aware that spot prices are bifurcated into ask and bid numbers, and the charted spot price is the ask, or the amount you’ll use when you buy palladium. The bid spot price is almost always lower than the ask, so bear that in mind as you compare different sales offers.

The good news is that the internet has made it much easier to sell palladium than in times past. Although its volume is lower, you won’t have to search quite as hard for a buyer, and you’ll likely be able to do some price shopping.

Once you’ve decided on the deal you want, be sure to follow the dealer’s instructions to the letter when it comes to shipping your palladium safely and securely. Failure to do so may result in an increased risk of theft or damage and have extremely negative impacts on the deal.

Trading Palladium with Provident Metals

We are more than happy to help you trade your palladium. Whether you are buying or selling, we have plenty of options available and can make you a fair and equitable offer.

You can contact us around the clock via the live chat function at the bottom right of this page. Alternatively, you can email us at help@providentmetals.com at your convenience.

We are available for phone inquiries if you dial (800) 313-3315. However, please note that we are only staffed between 8 AM and 6 PM Central Time, Monday through Friday, for in-person conversations.