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Palladium Price — 10-Day Trend
All prices in ₹ per gram · daily rate, updated once per day
From a Record High to One of the Sharpest Crashes in Precious Metals
Palladium's chart over the past several years tells one of the more dramatic stories in precious metals. It reached 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 supply disruption would cut off a huge share of world output. From there, it fell — not gradually, but by 76.2%, bottoming near $813.50 an ounce in August 2024. Today's domestic reference rate of ₹4,020.74 per gram sits well downstream of that entire arc.
A decline that size, over roughly two and a half years, puts palladium among the sharpest sustained drawdowns any major precious metal has experienced in recent history — and understanding why requires looking at both the fear that drove the spike and the reality that eventually caught up with it.
- March 2022: record intraday high near $3,420-3,425/oz, driven by Russia-invasion supply fears
- August 2024: low near $813.50/oz — a 76.2% decline from the record
- January 2026: a 169.9% rally off the low to $2,195.50/oz, before declining again mid-2026
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 |
Three Forces That Combined to Bring the Price Down
No single explanation fully accounts for a decline this large — it took several forces pulling in the same direction over an extended period.
The unwinding of a fear premium
The most direct driver was the gap between what the March 2022 price anticipated and what actually happened. Russian palladium supply continued reaching global markets in the following years at a scale the initial panic hadn't priced in — meaning a real chunk of the 2022 spike was, in retrospect, a risk premium for a disruption that didn't materialize at the feared magnitude, and that premium had to come out of the price eventually.
Automaker substitution toward platinum
Palladium's price gap over platinum, once it opened wide enough, gave automakers a real economic incentive to redesign gasoline catalytic converters to use more platinum and less palladium — an industry practice known as thrifting or substitution. Once engineered into a vehicle platform, that substitution tends to stick for the platform's production life, typically around seven years, meaning its demand-dampening effect on palladium compounds rather than reversing quickly.
A slower but real EV shift
Palladium's core demand comes from gasoline and hybrid vehicle catalytic converters — a technology that doesn't exist in a battery electric vehicle at all. As EV adoption grew globally, even gradually, it chipped away at the addressable market for palladium's primary use case, adding a genuine long-term headwind on top of the other two factors.
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 | — |
The Recovery Shows the Story Isn't Over
Palladium didn't simply stay at its 2024 low. It rallied 169.9% off that bottom to reach $2,195.50 an ounce by January 2026, before declining again through mid-2026 — a pattern that underscores how much two-way volatility remains built into this market, even years after the initial 2022 spike. Neither the crash nor the recovery has settled palladium into a stable, predictable range.
That volatility traces back to the same structural features covered elsewhere on this site: a supply base concentrated in Russia and South Africa, largely produced as a byproduct rather than mined on purpose, feeding a demand base (gasoline catalytic converters) that's itself in gradual structural decline. Those forces haven't resolved — they've just moved the price around a lot while doing so.
Palladium Price Crash — FAQs
Palladium reached a record intraday high near $3,420-3,425 an ounce in March 2022, immediately after Russia's invasion of Ukraine, driven by fears that sanctions or supply disruption would cut off a large share of world palladium output.
Palladium fell 76.2% from its March 2022 record of $3,425 to a low near $813.50 an ounce in August 2024 — one of the largest sustained declines of any major precious metal in recent history.
Several forces combined. The physical supply disruption the market braced for in 2022 turned out to be much smaller than feared, which alone would unwind a fear-driven premium. On top of that, automaker substitution toward platinum in gasoline catalytic converters — a real, ongoing response to palladium's price gap — and a slower-than-expected but real shift toward electric vehicles both worked against palladium demand over the following two years.
Yes, substantially. From the August 2024 low near $813.50, palladium rallied 169.9% to a high of $2,195.50 in January 2026, before declining again in mid-2026 — a reminder that even after a dramatic crash, palladium's price has kept moving in large swings rather than settling into a stable range.
