Palladium prices averaged USD 972 per troy ounce in February, up 2.2% from January. On 28 February, the commodity traded at USD 918 per troy ounce, down 7.6% from 31 January.
Palladium prices rose from January’s average in February as the USD depreciated against a basket of currencies and U.S. treasury bill yields dipped month on month; both developments boosted investors’ appetite for the metal. In addition, safe-haven demand was fueled by escalating trade tensions amid rising U.S. protectionism. Finally, the World Platinum Investment Council downgraded its forecast for total supply in 2025 in a recent report, likely spurring fears of a market shortfall.
This chart displays Palladium (US$/toz) from 2023 to 2024.
Palladium LME (prices in US$/toz, aop)
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | |
|---|---|---|---|---|---|---|---|---|
| Palladium LME | 1,567 | 1,445 | 1,250 | 1,093 | 980 | 973 | 970 | 1,011 |