What is palladium?
Palladium is one of the platinum-group metals. The US Geological Survey says it has replaced platinum in most gasoline-engine catalytic converters 'because of the historically lower price for palladium relative to that of platinum,' so the two prices are linked. Russia and South Africa mined about 81 percent of the world's palladium in 2025, on USGS estimates.
USGS annual averages show how far its price has moved: $2,419.18 an ounce in 2021 and $994.90 in 2024.
Can palladium go in an IRA?
Yes. The tax code points to the minimum fineness a regulated futures exchange requires for delivery, and the NYMEX rules set that at 99.95 percent, which is where the commonly quoted .9995 figure comes from. Qualifying products are held by a custodian at an approved depository. Custodians set their own lists of accepted products.
How does palladium show up in practice?
A dealer quotes palladium at a premium over the market price when you buy and pays a bid below it when you sell. Ask for both the price you'll pay and the buyback price before you buy, so you know the spread.