Gold/Palladium Ratio - 2.78
Current Market Snapshot
As of 2025-07-15:
- Gold Fixing Price: 3,351.15 per ounce*
- Palladium Fixing Price: 1,219.00 per ounce**
- Gold/Palladium Ratio: 2.78, which is above the 20-year mean of 1.88.
This means it currently takes 2.78 ounces of palladium to buy one ounce of gold. The ratio has recently fallen, indicating that palladium is outperforming the other. This shift reflects evolving investor sentiment, macroeconomic uncertainty, and changing demand across industrial and monetary uses.
* For gold, prices are set twice daily from LBMA (London Bullion Market Association). We take the average of the gold fixing price at 10:30 and 15:00 each day as the Gold Fixing Price. All the below-mentioned gold prices are the average fixing price.
** For palladium, prices are set twice daily from LBMA (London Bullion Market Association). We take the average of the palladium fixing price at 09:45 and 14:00 each day as the palladium Fixing Price. All the below-mentioned palladium prices are the average fixing price.
What Is the Gold/Palladium Ratio — and Why It Matters
The Gold/Palladium Ratio is a key indicator used to measure the relative value of gold to palladium. It is calculated by dividing the current latest gold fixing price by the palladium fixing price.
Why It’s Important:
- Relative Valuation: It can identify the relative value between two metals.
- Market Sentiment: The ratio tends to rise during periods of crisis when people buy more gold for safety and fall during economic recovery.
- Timing Tool: Investors use this ratio to shift allocations between gold and palladium for potential long-term gain opportunities.
- Historical Mean Reversion: Over time, the ratio usually moves back toward its long-term average of around 1.98. When the ratio gets too high or too low, it may signal a good time to take action.
Gold/Palladium Ratio
Gold/Palladium Ratio – Long-Term Historical Trend
As of 2025-07-15, the Gold/Palladium Ratio stands at 2.78, which is above its long-term historical range. Over the past 20 years, the gold/palladium ratio has reached a high of 4.89 in 2009-02-25 and a low of 0.58 in 2020-02-19. The average (mean) ratio during this period is approximately 1.88 with a standard deviation (σ) of about 0.82, placing the gold/palladium ratio 1σ range between 1.06 and 2.70.
As of 2025-07-15, the Gold/Palladium Ratio is trading above the +1σ level, suggesting that gold is relative to palladium from a historical perspective. Historically, when the ratio deviates beyond this range, it tends to revert toward the mean, presenting potential opportunities for investors.
Gold Price
Gold Fixing Price Analysis
Over the past 20 years, gold fixing prices have increased significantly. The latest gold fixing price is approximately $3351.15 per ounce, compared to a 20-year average of around $1407.34. With a standard deviation of about $534.36, the typical price range falls between $872.98 and $1,941.70 per ounce. As of 2025-07-14, the price is well above the upper 1 std range , indicating that gold is trading at a statistically higher than usual level.
Palladium Price
Palladium Fixing Price Analysis
Over the past 20 years, palladium fixing prices have increased moderately. The latest palladium fixing price is approximately $1219 per ounce, compared to a 20-year average of around $955.76. With a standard deviation of about $644.11, the typical price range falls between $311.65 and $1,599.87 per ounce. As of 2025-07-15, the price is within the 1std range , indicating that palladium is trading at a statistically normal level.
Gold Price Performance (USD)
| Time Period | Change | Return (%) |
|---|
Palladium Price Performance (USD)
| Time Period | Change | Return (%) |
|---|
Over the past 20 years, gold has risen by +2,926.85, a positive change of +689.81%. This reflects a strong long-term gain. In the last 5 years, gold has risen by +85.98%. More recently, gold has gained +39.23% over the past year. And +25.65% in the last 6 months. In the past 30 days, gold decreased by -2.45%.
Over the past 20 years, palladium has risen by +1,036.00, a positive change of +566.12%. This reflects a strong long-term gain. In the last 5 years, palladium has fallen by -37.71%. More recently, palladium has gained +27.51% over the past year. And +26.85% in the last 6 months. In the past 30 days, palladium increased by +15.55%.
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