Palladium prices averaged USD 1,135 per troy ounce in August, down 5.2% from July. On 29 August, the commodity traded at USD 1,094 per troy ounce, down 10.1% from 31 July.
Palladium prices declined at the fastest pace among precious metals in August, after rising for three successive months. Recent price volatility may be due to uncertainty about U.S. tariffs on Russian palladium exports. Regardless, the metal’s price remained at one of the highest levels in the last two years, driven by a still-elevated gold-palladium price ratio fueling investment demand.
This chart displays Palladium (US$/toz) from 2023 to 2025.
Palladium LME (prices in US$/toz, aop)
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Palladium LME | - | - | 1,250 | 1,093 | 980 | 973 | 970 | 1,011 | 960 | 990 | - | - |