Drivers of Today's Palladium Market
The palladium price today is primarily influenced by industrial demand. Palladium is significantly rarer than gold or platinum and is an essential component in catalytic converters for gasoline engines. Because roughly 85% of palladium is used in the automotive sector, today's price is highly sensitive to global vehicle production data.
Our tracker monitors the XPD/USD spot price. As most production comes from Russia and South Africa, geopolitical events often trigger significant volatility in today's market rate.