Record Palladium Price and Historical Highs
Synopsis
The record palladium price high in USD was set on 7th March 2022 at $3,429.50 per troy ounce, with the record price in GBP at £2,608.70 per troy ounce being set on the same day. This is all the more incredible given that the price for palladium was barely $200 an ounce in the mid-1990s.
Highest Ever Palladium Prices in US Dollars, Sterling and Euros
| Currency | Record Intraday Price Per Ounce | Date |
| Pounds Sterling | £2,608.70 | 7th March 2022 |
| US Dollars | $3,429.50 | 7th March 2022 |
| Euros | €3,171.80 | 7th March 2022 |
Palladium is a rare and lustrous silvery-white metal which forms part of the platinum group metals, and is primarily used in the manufacture of catalytic converters for petrol automobiles. Outside its industrial uses, it can be a popular precious metal investment. This is especially the case for those who are content with the greater volatility of the price of palladium and are looking for a higher chance of significant returns.
Record Prices - LBMA Palladium Fix Table 2020 Onwards
The LBMA has provided price fixes for palladium since the 2nd April 1990, initially in US dollars and Pounds Sterling. Figures for palladium denominated in terms of the Euro became available from the 4th January 1999 onwards.
| Date | Fix | Price £ | Price $ | Price € |
| 7th March 2022 | AM | £2,537.23 | $3,339.00 | €3,076.00 |
| 4th March 2022 | PM | £2,239.43 | $2,965.00 | €2,715.20 |
| 3rd March 2022 | PM | £2,065.00 | $2,764.00 | €2,492.34 |
| 3rd March 2022 | AM | £2,056.07 | $2,750.00 | €2,483.07 |
| 27th April 2021 | AM | £2,124.77 | $2,924.00 | €2,442.79 |
| 26th April 2021 | PM | £2,099.46 | $2,913.00 | €2,412.42 |
| 23rd April 2021 | PM | £2,097.30 | $2,910.00 | €2,411.94 |
| 22nd April 2021 | PM | £2,075.70 | $2,879.00 | €2,388.22 |
| 22nd April 2021 | AM | £2,041.73 | $2,838.00 | €2,360.08 |
| 19th April 2021 | AM | £2,024.50 | $2,810.00 | €2,336.80 |
| 27th February 2020 | AM | £2,165.83 | $2,795.00 | €2,556.01 |
| 19th February 2020 | AM | £2,141.43 | $2,786.00 | €2,579.63 |
| 20th January 2020 | AM | £1,984.57 | $2,573.00 | €2,321.15 |
| 17th January 2020 | PM | £1,890.34 | $2,465.00 | €2,220.72 |
| 17th January 2020 | AM | £1,814.56 | $2,368.00 | €2,128.94 |
| 16th January 2020 | AM | £1,812.33 | $2,366.00 | €2,121.97 |
| 15th January 2020 | PM | £1,714.83 | $2,231.00 | €2,000.90 |
| 14th January 2020 | PM | £1,656.66 | $2,152.00 | €1,936.99 |
| 14th January 2020 | AM | £1,655.36 | $2,147.00 | €1,929.02 |
| 13th January 2020 | PM | £1,644.07 | $2,134.00 | €1,919.06 |
| 9th January 2020 | AM | £1,626.39 | $2,120.00 | €1,909.05 |
| 8th January 2020 | PM | £1,602.90 | $2,103.00 | €1,891.99 |
| 8th January 2020 | AM | £1,589.35 | $2,090.00 | €1,876.12 |
| 7th January 2020 | PM | £1,547.85 | $2,030.00 | €1,819.81 |
| 7th January 2020 | AM | £1,539.86 | $2,028.00 | €1,813.95 |
| 6th January 2020 | AM | £1,539.57 | $2,023.00 | €1,807.86 |
Record LBMA Palladium Fix - 2019
| Date | Fix | Price £ | Price $ | Price € |
| 17th December 2019 | AM | £1,509.86 | $1,990.00 | €1,784.75 |
| 13th December 2019 | PM | £1,477.51 | $1,971.00 | €1,764.55 |
| 13th December 2019 | AM | £1,468.31 | $1,969.00 | €1,761.18 |
| 12th December 2019 | PM | £1,471.88 | $1,937.00 | €1,739.56 |
| 12th December 2019 | AM | £1,460.40 | $1,927.00 | €1,731.36 |
| 11th December 2019 | PM | £1,451.78 | $1,912.00 | €1,724.08 |
| 11th December 2019 | AM | £1,443.56 | $1,899.00 | €1,713.13 |
| 10th December 2019 | PM | £1,440.39 | $1,897.00 | €1,712.09 |
| 9th December 2019 | PM | £1,438.02 | $1,891.00 | €1,707.45 |
| 9th December 2019 | AM | £1,426.83 | $1,877.00 | €1,696.34 |
| 6th December 2019 | PM | £1,425.74 | $1,872.00 | €1,690.29 |
| 6th December 2019 | AM | £1,423.24 | $1,868.00 | €1,682.88 |
| 3rd December 2019 | AM | £1,433.74 | $1,861.00 | €1,679.60 |
| 2nd December 2019 | PM | £1,436.97 | $1,858.00 | €1,683.73 |
| 2nd December 2019 | AM | £1,426.03 | $1,841.00 | €1,671.36 |
| 29th November 2019 | AM | £1,427.46 | $1,840.00 | €1,671.97 |
| 28th November 2019 | AM | £1,417.63 | $1,833.00 | €1,664.09 |
| 4th November 2019 | AM | £1,404.26 | $1,815.00 | €1,625.62 |
| 31st October 2019 | AM | £1,394.43 | $1,803.00 | €1,615.59 |
| 29th October 2019 | AM | £1,403.51 | $1,800.00 | €1,625.28 |
| 28th October 2019 | PM | £1,393.00 | $1,790.00 | €1,613.34 |
| 28th October 2019 | AM | £1,388.09 | $1,783.00 | €1,607.03 |
| 25th October 2019 | PM | £1,387.98 | $1,778.00 | €1,601.88 |
| 25th October 2019 | AM | £1,382.40 | $1,775.00 | €1,596.22 |
| 21st October 2019 | PM | £1,363.88 | $1,771.00 | €1,586.92 |
| 17th October 2019 | AM | £1,380.41 | $1,769.00 | €1,595.85 |
| 16th October 2019 | PM | £1,379.50 | $1,763.00 | €1,596.92 |
| 16th October 2019 | AM | £1,368.96 | $1,742.00 | €1,579.33 |
| 15th October 2019 | PM | £1,376.83 | $1,741.00 | €1,582.73 |
| 15th October 2019 | AM | £1,362.81 | $1,726.00 | €1,565.53 |
| 11th October 2019 | AM | £1,368.08 | $1,706.00 | €1,550.91 |
| 10th October 2019 | PM | £1,385.12 | $1,694.00 | €1,537.21 |
| 3rd October 2019 | AM | £1,375.86 | $1,693.00 | €1,544.00 |
| 30th September 2019 | AM | £1,372.56 | $1,691.00 | €1,546.41 |
| 25th September 2019 | AM | £1,345.67 | $1,672.00 | €1,520.00 |
| 24th September 2019 | PM | £1,333.33 | $1,664.00 | €1,512.04 |
| 23rd September 2019 | AM | £1,333.33 | $1,658.00 | €1,510.71 |
| 20th September 2019 | AM | £1,313.92 | $1,647.00 | €1,490.50 |
| 16th September 2019 | AM | £1,301.17 | $1,618.00 | €1,462.27 |
| 13th September 2019 | AM | £1,293.02 | $1,608.00 | €1,449.30 |
| 21st March 2019 | AM | £1,217.92 | $1,604.00 | €1,406.40 |
| 20th March 2019 | PM | £1,215.47 | $1,602.00 | €1,410.83 |
| 20th March 2019 | AM | £1,209.07 | $1,599.00 | €1,408.81 |
| 19th March 2019 | AM | £1,202.71 | $1,596.00 | €1,406.17 |
| 18th March 2019 | PM | £1,184.03 | $1,567.00 | €1,380.62 |
| 18th March 2019 | AM | £1,177.05 | $1,559.00 | €1,374.17 |
| 27th February 2019 | PM | £1,170.11 | $1,558.00 | €1,368.47 |
| 27th February 2019 | AM | £1,170.93 | $1,555.00 | €1,365.23 |
| 26th February 2019 | AM | £1,170.08 | $1,541.00 | €1,356.51 |
| 25th February 2019 | PM | £1,169.09 | $1,528.00 | €1,346.26 |
| 25th February 2019 | AM | £1,166.03 | $1,524.00 | €1,343.32 |
| 20th February 2019 | AM | £1,149.21 | $1,498.00 | €1,319.82 |
| 19th February 2019 | AM | £1,147.50 | $1,482.00 | €1,310.92 |
| 18th February 2019 | AM | £1,128.92 | $1,458.00 | €1,288.56 |
| 15th February 2019 | PM | £1,121.78 | $1,437.00 | €1,275.63 |
| 18th January 2019 | AM | £1,095.05 | $1,417.00 | €1,243.53 |
| 17th January 2019 | PM | £1,078.23 | $1,392.00 | €1,221.05 |
| 17th January 2019 | AM | £1,079.25 | $1,389.00 | €1,218.96 |
| 16th January 2019 | PM | £1,046.29 | $1,345.00 | €1,180.86 |
| 9th January 2019 | AM | £1,049.78 | $1,339.00 | €1,168.41 |
| 7th January 2019 | PM | £1,028.59 | $1,313.00 | €1,145.72 |
| 7th January 2019 | AM | £1,028.24 | $1,311.00 | €1,145.48 |
Record LBMA Palladium Price Fix - 2018
| Date | Fix | Price £ | Price $ | Price € |
| 20th December 2018 | AM | £1,003.94 | $1,274.00 | €1,110.24 |
| 18th December 2018 | PM | £999.21 | $1,266.00 | €1,112.97 |
| 13th December 2018 | AM | £998.42 | $1,264.00 | €1,111.21 |
| 12th December 2018 | PM | £999.21 | $1,260.00 | €1,110.62 |
| 12th December 2018 | AM | £1,000.80 | $1,255.00 | €1,107.19 |
| 5th December 2018 | PM | £983.54 | $1,255.00 | €1,104.75 |
| 5th December 2018 | AM | £981.53 | $1,249.00 | €1,101.90 |
| 4th December 2018 | PM | £972.99 | $1,243.00 | €1,090.83 |
| 4th December 2018 | AM | £963.64 | $1,235.00 | €1,082.38 |
| 3rd December 2018 | PM | £953.99 | $1,213.00 | €1,070.14 |
| 30th November 2018 | PM | £943.99 | $1,205.00 | €1,060.27 |
| 30th November 2018 | AM | £932.71 | $1,192.00 | €1,047.91 |
| 29th November 2018 | AM | £925.67 | $1,183.00 | €1,040.46 |
| 19th November 2018 | AM | £918.41 | $1,182.00 | €1,034.57 |
| 16th November 2018 | PM | £915.31 | $1,178.00 | €1,034.24 |
| 16th November 2018 | AM | £907.88 | $1,163.00 | €1,025.12 |
| 24th October 2018 | AM | £882.44 | $1,141.00 | €1,000.00 |
| 23rd October 2018 | PM | £877.35 | $1,141.00 | €995.64 |
| 23rd October 2018 | AM | £873.85 | $1,136.00 | €990.41 |
| 15th January 2018 | PM | £818.12 | $1,129.00 | €919.01 |
| 15th January 2018 | AM | £819.47 | $1,128.00 | €920.44 |
| 9th January 2018 | PM | £819.22 | $1,108.00 | €928.75 |
| 9th January 2018 | AM | £815.53 | $1,103.00 | €924.17 |
| 4th January 2018 | PM | £812.71 | $1,100.00 | €911.35 |
| 4th January 2018 | AM | £810.93 | $1,098.00 | €912.34 |
Record LBMA Palladium Price Fix - 1990-2001
| Date | Fix | Price £ | Price $ | Price € |
| 26th January 2001 | AM | £747.00 | $1,094.00 | €1,179.50 |
| 4th January 1999 | PM | £203.50 | $337.00 | €285.35 |
| 18th May 1998 | PM | £257.40 | $417.00 | N/A |
| 5th April 1995 | PM | £110.45 | $178.25 | N/A |
| 2nd April 1990 | AM | £78.70 | $128.00 | N/A |
NEW All-Time High - March 2022
Palladium reached a new high on 7 March 2022 of £2,608.70 after Russian President Vladimir Putin authorised the invasion of the Ukraine. US-led sanctions would hamper Russian trading but would also cut off the supply of the world's largest provider of palladium.
USD All-Time High - April 2021
Just over a year on after the palladium price collapsed, the precious metal breaks the record high denominated in US dollars, hitting $3,000.50 (£2,164.17) on the 30th April. Demand from the automotive sector remains strong, with Citibank analysts suggesting the price of the precious metal could hit $3,200 within 3 months due to supply squeezes caused by flooding in mines owned by Russian supplier Nornickel.
Other traders suggested the metal was still available, with HSBC analysts stating stockpiles have always been found to satisfy demand. One HSBC analyst, Jim Steel, said manufacturers are starting to switch from palladium to platinum to save money, taking some pressure off the market.
Palladium Bubble Grows, then Bursts - 2020
Supply squeezes continue in the palladium market, with production problems in the two main palladium-exporting nations of Russia and South Africa, who both account of 90% of world production. Combined with relentless demand from speculators and industrial demand from car manufacturers, palladium balloons to an incredible $2877.50 (£2232.55) per troy ounce. The precious metal becomes the talk of the financial world. with commentators and 'experts' speculating how far this bull run could go for palladium.
However, the COVID-19 pandemic bursts the palladium bubble in spectacular fashion. Demand collapses around the world as governments panic and shut down economies in an attempt to control the spread of the virus, which originated in Wuhan, PR China. In less than a month, palladium shed half of its value in US dollar terms, collapsing from the high of $2877.50 on the 28th February to a low of $1433.00 on 19th March.
By late April, palladium recovers to $1955.00 (£1566.50) per ounce, but shows high levels of volatility amid the global COVID-19 crisis.
Volkswagen Emissions Scandal 2018-19
The Volkswagen emissions scandal rocks the German automobile industry, hitting demand for diesel vehicles and their platinum catalytic converters. New regulations and laws are put in place to nudge drivers towards petrol and hybrid cars, which causes a shift in demand towards palladium-intensive catalytic converters.
Aided by a Russian ban on the export of palladium, the price begins to skyrocket, smashing the previous record high set in 2001. Palladium reaches a high of $1604.00 per ounce on 21st March 2019 before settling down for around six months.
2000s Commodities Boom
Russia accounts for around half of the world's palladium output. In the run up to 2000, the Russian supply of palladium to the global market was repeatedly delayed and disrupted as a result of political interference. The ensuing market panic drove the LBMA price fix a high of just under $1,100 per troy ounce in January 2001.
Around that time, car companies were caught short. The Ford Motor Company, fearing that automobile production would be disrupted by a palladium shortage, stockpiled the metal. When Russia, principally Norilsk Nickel, resumed steady palladium exports in early 2001, prices collapsed to $315 an ounce. As a result, Ford lost around one billion US dollars.
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