Palladium Prices

Palladium prices averaged USD 1,508 per troy ounce in April, which was up 5.8% from March’s price but was 35.3% lower than in the same month last year. Meanwhile, on 28 April, palladium closed the day at USD 1,497 per troy ounce, which was 0.5% higher than on the same day of the previous month.

Prices in April were higher than in March amid positive demand dynamics. The automobile sector—the key source of demand for palladium, which is used in cars’ catalytic converters—likely performed well in recent weeks, as vehicle production in major economies increased thanks to the improved availability of semiconductors. Moreover, strong safe-haven demand, the weaker U.S. dollar and lower average U.S. bond yields in April compared to March boosted the attractiveness of precious metals generally, aiding palladium prices.