Record Palladium Price and Historical Highs

Author: Corey McDowell - Economics Editor

Published: 25 Mar 2020

Last Updated: 14 May 2020

Highest Ever Palladium Prices in US Dollars, Sterling and Euros

The record palladium price high was set on 28th February 2020 at $2877.50 (£2232.55) per troy ounce, capping off an astonishing bull run for the precious metal which lasted nearly six months. This is all the more incredible given that the price for palladium was barely $200 an ounce in the mid-1990s.

Currency Record Intraday Price Per Ounce Date
Pounds Sterling £2232.55 28th February 2020 
US Dollars $2877.50 28th February 2020 
Euros €2635.00 28th February 2020 

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.

Historical Palladium Price

Record Prices - LBMA Palladium Fix Table 2020

The LBMA has provided price fixes for palladium since 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 €
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

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 epidemic 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.

Palladium Bubble Bursts

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.

2019 Palladium Bubble

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.

Further Reading

Learn more about record gold prices and record silver prices.

Follow this link to our live palladium price charts

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