Palladium prices averaged USD 1,009 per troy ounce in November, down 5.6% from October. On 29 November, the commodity traded at USD 983 per troy ounce, down 12.6% from 31 October.
In November, palladium prices fell from October’s average, as markets upgraded their forecasts for U.S. interest rates, the USD strengthened and monthly U.S. treasury billyields rose following Trump’s election victory. A decline in global vehicle demand also dragged on prices. Safe-haven demand took a hit from a ceasefire in Lebanon, though it was supported by an escalation in the Russia-Ukraine war. Meanwhile, rising market bets for additional stimulus measures in top consumer China aided prices.
This chart displays Palladium (US$/toz) from 2022 to 2024.
Palladium LME (prices in US$/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 | - |