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Palladium Price — 10-Day Trend
All prices in ₹ per gram · daily rate, updated once per day
One Country, Two-Fifths of the Market
Russia has been the world's single largest palladium producer for years, supplying roughly two-fifths of global mine output — most of it from MMC Norilsk Nickel's operations in Siberia, the world's largest combined nickel and palladium producing company. Today's reference rate of ₹4,020.74 per gram sits downstream of a supply base concentrated enough that geopolitical events involving Russia have, historically, moved this market harder and faster than almost any other precious metal.
That's not a hypothetical risk. It's already happened, in dramatic fashion, within the last few years.
- Russia's share: roughly 39-42% of global mined palladium in recent years
- Dominant producer: MMC Norilsk Nickel, the world's largest nickel and palladium producing company
- Byproduct relationship: Russian palladium is mined mainly alongside nickel, not on its own
Palladium Price by Weight
Today's Palladium rate is Four Thousand Twenty One Rupees per gram. At this rate, 10 grams of Palladium costs Forty Thousand Two Hundred and Seven Rupees.
| Unit | Weight | Price (INR) | Price in Words |
|---|---|---|---|
| 1 Gram | 1.0000 g | ₹4,020.74 | Four Thousand Twenty One Rupees |
| 8 Grams | 8.0000 g | ₹32,165.88 | Thirty Two Thousand One Hundred and Sixty Six Rupees |
| 10 Grams | 10.0000 g | ₹40,207.35 | Forty Thousand Two Hundred and Seven Rupees |
| 100 Grams | 100.0000 g | ₹402,073.53 | Four Lakh Two Thousand Seventy Four Rupees |
| 1 Kilogram | 1,000.0000 g | ₹4,020,735.28 | Forty Lakh Twenty Thousand Seven Hundred and Thirty Five Rupees |
| 1 Ounce (oz) | 28.3495 g | ₹113,985.83 | One Lakh Thirteen Thousand Nine Hundred and Eighty Six Rupees |
| 1 Troy Ounce | 31.1035 g | ₹125,058.94 | One Lakh Twenty Five Thousand Fifty Nine Rupees |
| 1 Metric Ton | 1,000,000.0000 g | ₹4,020,735,277.00 | Four Hundred and Two Crore Seven Lakh Thirty Five Thousand Two Hundred and Seventy Seven Rupees |
March 2022: What Happened When the Risk Materialized
When Russia invaded Ukraine in February 2022, the market's first instinct was to price in the worst case for a metal this concentrated: that sanctions, trade restrictions, or Russia's own response would cut off a huge share of world palladium supply almost overnight. Palladium spiked to a record intraday high near $3,420-3,425 an ounce in March 2022 on exactly that fear.
The disruption that didn't happen — at that scale
Here's the part that makes this episode genuinely instructive rather than just dramatic: the feared supply cut largely didn't materialize. Russian palladium continued reaching global markets in the following years, and by August 2024, palladium had fallen 76.2% from its March 2022 record to a low near $813.50 an ounce. That's an extraordinary round trip — from a fear-driven spike to one of the metal's largest historical declines — and it happened because the physical supply disruption the market braced for in 2022 turned out to be far smaller than the price move implied.
That doesn't mean the 2022 spike was irrational at the time — it was a reasonable response to genuine uncertainty about how severe sanctions and disruption might get. It means the market ended up pricing a worst-case scenario that didn't fully play out, and the subsequent crash was largely that risk premium unwinding.
Palladium Price — Last 10 Days
The most recent Palladium price on record (2026-09-17) is Four Thousand Twenty One Rupees per gram. This is down by Twenty Four Rupees from the previous day's rate of ₹4,044.77.
| Date | Price (INR/g) | Change |
|---|---|---|
| 2026-09-17 | ₹4,020.74 | -24.03 |
| 2026-09-16 | ₹4,044.77 | +52.34 |
| 2026-09-15 | ₹3,992.42 | +2.67 |
| 2026-09-14 | ₹3,989.75 | -0.04 |
| 2026-09-13 | ₹3,989.79 | +0.07 |
| 2026-09-12 | ₹3,989.73 | -59.30 |
| 2026-09-11 | ₹4,049.03 | +54.10 |
| 2026-09-10 | ₹3,994.93 | -187.77 |
| 2026-09-09 | ₹4,182.70 | +30.63 |
| 2026-09-08 | ₹4,152.07 | — |
Why This Risk Hasn't Gone Away
The structural concentration behind the 2022 episode is still fully in place today. Russia remains the dominant palladium producer, and Norilsk Nickel remains the single largest company source — nothing about the underlying supply map has diversified meaningfully since. That means the mechanism that produced March 2022's spike is still available to produce another one, if a future event genuinely disrupts Russian supply rather than just threatening to.
The honest lesson from 2022-2024 isn't "geopolitical risk doesn't matter for palladium" — it clearly can, instantly. It's that the market's initial pricing of a threat and the eventual real-world outcome can diverge substantially, and palladium's thin, concentrated market structure means that gap tends to show up as an unusually large price swing in both directions rather than a modest adjustment.
Palladium Russia Supply Risk — FAQs
Russia has been the single largest palladium-producing country for years, supplying roughly two-fifths — around 39-42% depending on the year — of global mine output, the large majority of it from MMC Norilsk Nickel's Siberian operations, the world's largest combined nickel and palladium producer.
Yes, sharply. Palladium hit a record intraday high near $3,420-3,425 an ounce in March 2022, in the immediate aftermath of Russia's invasion of Ukraine, on fears that sanctions or a Russian response would cut off a huge share of world supply.
No, not in the way the March 2022 price spike anticipated. Physical palladium supply from Russia continued reaching global markets, and by August 2024 palladium had fallen 76.2% from that record high to a low near $813.50 an ounce — a dramatic reversal that shows how much of the 2022 spike was priced on feared disruption rather than a disruption that actually occurred at that scale.
The underlying concentration hasn't gone away — Russia remains the dominant palladium producer, and Norilsk Nickel remains the single largest company source. That means any future escalation in sanctions, trade restrictions, or a genuine supply disruption (as opposed to a feared one) still has the structural potential to move the palladium price sharply, even though the 2022 episode didn't play out as a lasting supply cut.
