Quick Conversions
Palladium Price — 10-Day Trend
All prices in ₹ per gram · daily rate, updated once per day
When One Precious Metal Can Stand In for Another
Most of the metals tracked on this site don't have a real substitute — you can't swap copper for aluminium in a wiring application without redesigning the whole system, and gold has no practical equivalent as a store of value. Palladium is a genuine exception, at least in one specific, important application: gasoline-engine catalytic converters, where platinum can do much of the same job. That substitutability, known in the industry as thrifting, has been one of the real forces shaping palladium's price relative to today's ₹2,980.70 per gram.
The mechanism is straightforward economics: when palladium trades at a wide enough premium over platinum, automakers have a genuine financial incentive to redesign converters to use more platinum and less palladium, since platinum can achieve broadly equivalent emissions performance at a lower material cost.
- Thrifting: redesigning a catalytic converter to use less of the pricier metal
- Platinum-for-palladium substitution: the specific, real, ongoing shift seen in recent years
- Trigger: a wide enough price gap between the two metals to justify a redesign
Palladium Price by Weight
Today's Palladium rate is Two Thousand Nine Hundred and Eighty One Rupees per gram. At this rate, 10 grams of Palladium costs Twenty Nine Thousand Eight Hundred and Seven Rupees.
| Unit | Weight | Price (INR) | Price in Words |
|---|---|---|---|
| 1 Gram | 1.0000 g | ₹2,980.70 | Two Thousand Nine Hundred and Eighty One Rupees |
| 8 Grams | 8.0000 g | ₹23,845.63 | Twenty Three Thousand Eight Hundred and Forty Six Rupees |
| 10 Grams | 10.0000 g | ₹29,807.04 | Twenty Nine Thousand Eight Hundred and Seven Rupees |
| 100 Grams | 100.0000 g | ₹298,070.36 | Two Lakh Ninety Eight Thousand Seventy Rupees |
| 1 Kilogram | 1,000.0000 g | ₹2,980,703.62 | Twenty Nine Lakh Eighty Thousand Seven Hundred and Four Rupees |
| 1 Ounce (oz) | 28.3495 g | ₹84,501.46 | Eighty Four Thousand Five Hundred and One Rupees |
| 1 Troy Ounce | 31.1035 g | ₹92,710.31 | Ninety Two Thousand Seven Hundred and Ten Rupees |
| 1 Metric Ton | 1,000,000.0000 g | ₹2,980,703,616.00 | Two Hundred and Ninety Eight Crore Seven Lakh Three Thousand Six Hundred and Sixteen Rupees |
The Real Technical Trade-Off Behind the Swap
Platinum isn't a perfect one-for-one replacement, and it's worth being precise about why. Palladium is somewhat more effective than platinum at reducing nitrogen oxide emissions specifically at high engine speeds — a real performance difference, not a marketing distinction. That means a converter redesigned around platinum may need a slightly higher loading of the metal to match the emissions performance the original palladium-based design achieved, which is part of why substitution doesn't happen instantly the moment prices diverge — it takes real engineering work to get the new design right.
Once it happens, it sticks
Here's the detail that makes thrifting a genuinely structural demand force rather than a short-term reaction: once a vehicle platform's catalytic converter has been redesigned around platinum, that design typically remains in production for the platform's entire life cycle — commonly around seven years. The automaker doesn't switch back and forth as the palladium-platinum price gap fluctuates month to month; the redesign is locked in until the platform itself is replaced. That means a wave of substitution decisions made during a period of elevated palladium prices continues suppressing palladium demand for years afterward, even if palladium's price later falls.
Palladium Price — Last 10 Days
The most recent Palladium price on record (2026-11-01) is Two Thousand Nine Hundred and Eighty One Rupees per gram. This is down by One Rupees from the previous day's rate of ₹2,981.35.
| Date | Price (INR/g) | Change |
|---|---|---|
| 2026-11-01 | ₹2,980.70 | -0.65 |
| 2026-10-31 | ₹2,981.35 | -6.96 |
| 2026-10-30 | ₹2,988.31 | -90.46 |
| 2026-10-29 | ₹3,078.77 | -44.67 |
| 2026-10-28 | ₹3,123.44 | -36.58 |
| 2026-10-27 | ₹3,160.02 | -80.31 |
| 2026-10-26 | ₹3,240.33 | +52.57 |
| 2026-10-25 | ₹3,187.76 | -3.26 |
| 2026-10-24 | ₹3,191.01 | -25.68 |
| 2026-10-23 | ₹3,216.70 | — |
Why This Matters for Reading Palladium's Price Today
Thrifting is part of why palladium's price history includes such a dramatic decline from its 2022 highs — automakers spent the years following that spike locking substitution decisions into new vehicle platforms, adding a slow-building but genuine demand headwind on top of other forces working against palladium at the same time. It's a demand-side response that operates on an engineering and vehicle-platform timeline, not a market timeline, which is exactly why its effects show up gradually rather than all at once.
Watching the live platinum vs palladium price gap on this site is a reasonable way to gauge whether current conditions are wide enough to keep incentivizing new substitution decisions — though whether individual automakers actually act on that incentive depends on factors (engineering timelines, existing platform commitments) well beyond the price gap alone.
Palladium-Platinum Substitution — FAQs
Thrifting refers to automakers redesigning a catalytic converter to use less of an expensive precious metal, typically by substituting a cheaper one wherever the engineering allows. In the palladium market specifically, it usually means replacing some or all of a converter's palladium loading with platinum when palladium trades at a wide enough premium to justify the redesign cost.
Largely, yes — platinum is the only real substitute for palladium in this application, and platinum-for-palladium substitution in gasoline converters has become common in recent years specifically because of the price imbalance between the two metals. There is one real technical trade-off: palladium is somewhat more effective than platinum at reducing nitrogen oxide emissions at high engine speeds, so a converter switching to platinum may need a slightly higher loading to match the same performance.
Not quickly. Once a vehicle platform's catalytic converter has been redesigned around platinum, that design typically stays in place for the platform's entire production life — commonly around seven years — regardless of how the palladium-platinum price gap moves afterward. Reversing it means another redesign and recertification cycle, which automakers don't undertake casually.
No, it was one of several contributing forces, not the sole cause. The unwinding of a fear-driven price premium from the 2022 Russia-Ukraine war and a gradual shift toward electric vehicles both played real roles too — thrifting added structural, multi-year demand pressure on top of those other factors rather than being the whole explanation by itself.
