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Palladium

PA=F

Scarce platinum-group precious metal predominantly utilized in catalytic converters.

-68.44%
Bear Market·(< -30%)

As of Nov 5, 2026, Palladium (PA=F) closed at $1,086.00 /oz, representing a -68.44% drawdown from its all-time high of $3,441.22 /oz recorded on Mar 6, 2022 (1705 days ago). Returning to all-time high requires a +216.9% gain.

Last Close
$1,086.00/oz
Nov 5, 2026
All-Time High
$3,441.22/oz
Mar 6, 2022
Days Below Peak
1705d
Days below ATH
Gain to ATH
+216.9%
Needed to recover
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Historical Maximum Drawdowns & Annual Drops

Deepest peak-to-trough drop recorded within each calendar year.

Over the last 10 completed years, Palladium experienced an average intra-year drawdown of -30.9% lasting an average of 133 days peak-to-trough, with its deepest drawdown reaching -49.4% in 2022.

10Y Avg Drawdown
-30.94%
Bear Market
Deepest Drawdown
-49.36%
2022 · Bear Market
Avg Peak-to-Trough
133 days
YearMax Intra-Year DrawdownPeak HighBottom TroughPeak-to-TroughYearly Return
2025
-18.66%Correction
Dec 28, 2025
$2,026.00
Dec 31, 2025
$1,648.00
3 days
+79.50%
2024
-26.51%Correction
Oct 29, 2024
$1,247.55
Dec 30, 2024
$916.80
62 days
-19.23%
2023
-47.36%Bear Market
Jan 8, 2023
$1,840.29
Dec 10, 2023
$968.80
336 days
-37.62%
2022
-49.36%Bear Market
Mar 6, 2022
$3,441.22
Dec 21, 2022
$1,742.70
290 days
-7.09%
2021
-45.86%Bear Market
May 3, 2021
$3,009.52
Dec 14, 2021
$1,629.32
225 days
-19.93%
2020
-44.27%Bear Market
Feb 26, 2020
$2,815.34
Mar 17, 2020
$1,568.89
20 days
+27.97%
2019
-17.30%Correction
Mar 20, 2019
$1,601.61
May 22, 2019
$1,324.48
63 days
+51.37%
2018
-20.98%Correction
Jan 14, 2018
$1,136.48
Jul 19, 2018
$898.06
186 days
+17.86%
2017
-8.20%Pullback
Sep 3, 2017
$1,002.30
Sep 19, 2017
$920.10
16 days
+29.44%

Compare with Other Drawdowns

HG=F
Copper
-3.71%Minor Dip
SI=F
Silver
-56.02%Bear Market
GC=F
Gold
-25.87%Correction
SRUUF
Uranium
-26.38%Correction
PL=F
Platinum
-49.46%Bear Market
TOELYJapan
Tokyo Electron
-33.60%Correction

Palladium Historical Maximum Drawdown & Bear Market History

Historical Maximum Drawdowns & Major Crashes

Palladium has exhibited two historic boom-and-bust cycles. In January 2001, a speculative Russian supply squeeze sent palladium to $1,090/oz before collapsing -86.4% down to $148 in 2003. After soaring to an all-time peak of $3,440/oz in March 2022 following the outbreak of the Russia-Ukraine war, palladium experienced a crushing -75.3% decline down toward $850/oz by late 2024.

Typical Pullback Frequency

Due to extreme geographic concentration of mining output (primarily Russia and South Africa) and tight physical liquidity, palladium is subject to violent speculative squeezes followed by deep -60% to -80% unwinds as automakers substitute with platinum or draw down stockpiles.

Historical Recovery Timelines

The 2001 peak required 17 years to finally breach in January 2018. Following the parabolic March 2022 high, palladium has spent more than 2.5 years in a deep cyclical drawdown as automotive supply chains normalized.

Frequently Asked Questions about Palladium

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How is the current drawdown of Palladium calculated?
For Palladium, drawdown measures the percentage decline from its all-time high closing peak of $3,441.22 /oz (reached on Mar 6, 2022) to its latest daily close of $1,086.00 /oz: (($1,086.00 /oz - $3,441.22 /oz) / $3,441.22 /oz) × 100 = -68.44% Calculations use official daily settled closes to filter out intraday wick noise. The drawdown only resets to 0.00% when a new settled close surpasses $3,441.22 /oz.
At what prices does Palladium enter a dip, pullback, correction, or bear market?
Measuring from Palladium's all-time high closing price of $3,441.22 /oz: • -5% Dip: Triggers at $3,269.16 /oz • -10% Pullback: Triggers at $3,097.10 /oz • -20% Correction: Triggers at $2,752.98 /oz • -20% Bear Market: Triggers at $2,752.98 /oz At its latest close of $1,086.00 /oz (-68.44%), Palladium is currently in Bear Market territory (Prolonged cyclical downturn and deep historical valuation trough (> 30% decline).).
How much does Palladium need to rise to reach a new all-time high?
From its current drawdown of -68.44%, Palladium must gain +216.9% from its current price of $1,086.00 /oz to break even back at its all-time high of $3,441.22 /oz. Because losses compound on a reduced capital base, the recovery gain required always exceeds the drawdown percentage. For example, on a hypothetical $1,000 capital base at today's price, returning to prior all-time highs equals $3,168.71 (a +$2,168.71 recovery increase).
Calculate custom drawdown & break-even targets with the Drawdown Calculator
What is the typical annual drawdown and duration for Palladium?
Across completed annual calendar cycles, Palladium experienced an average intra-year pullback of -30.9%, taking an average of 133 calendar days to reach bottom from its intra-year peak. The deepest annual decline occurred in 2022 with a -49.4% drop, while the mildest year was 2017 with a pullback of only -8.2%.
What is the historical maximum drawdown for Palladium?
The maximum historical drawdown recorded for Palladium across tracked cycles is -74.03%. In recent market history, its deepest calendar year decline occurred in 2022, falling -49.4% from $3,441.22 /oz (Mar 6, 2022) down to a trough of $1,742.70 /oz (Dec 21, 2022), spanning 290 days from peak to bottom.
Educational & Informational Purpose Only: All data shown is for informational purposes only and does not constitute financial advice. Past drawdowns and recoveries are not indicative of future returns. See our Terms of Service for full disclaimers.