Palladium prices averaged USD 1,602 per troy ounce in December, up 13.2% from November. On 31 December, the commodity traded at USD 1,567 per troy ounce, up 8.2% from 28 November.
Palladium prices rose from November’s average in December, recording the strongest end-of-month reading since January 2023 and bringing full-year gains to over 70%. Like other precious metals, palladium prices surged on rising U.S.-Venezuela geopolitical tensions in December, which boosted safe-haven demand. A weaker dollar and expectations of further monetary easing by the Fed added impetus to the rally. However, the metal lost ground at the end of the month as traders booked their profits.
This chart displays Palladium (US$/toz) from 2024 to 2025.
Palladium LME (prices in US$/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 | - | - | - | - | 980 | 973 | 970 | 1,011 | 960 | 990 | 1,172 | 1,483 |