Gold vs Palladium – August 2026

The chart and table above rebase both gold and Palladium to an index value of 100 at the start of the 90-day window, which is the standard way to compare two assets that trade at very different absolute prices. It would be meaningless to plot gold's $4,652 per troy ounce next to Palladium's price on the same axis — indexing strips out the scale difference and shows only relative performance, so a line ending at 110 means that asset gained 10% over the period, regardless of its starting price. Over the last 90 days, gold gained 3.23% while Palladium lost 1.98%.

The Gold/Palladium ratio — currently 3.4739 — answers a different question: not "which went up more," but "how many units of Palladium does it take to buy one troy ounce of gold today." Tracking this ratio over time, rather than either asset's price in isolation, is how traders judge whether one asset has become cheap or expensive relative to the other, independent of what's happening to fiat currency values in the background.

Gold's core role in a portfolio is as a store of value with a multi-thousand-year track record and deep, liquid global markets — central banks hold it as a reserve asset precisely because it has no counterparty risk and cannot be devalued by any single government's policy decisions. Whatever you're comparing it against, that's the baseline gold brings to the comparison: lower volatility, lower long-term returns than higher-risk assets in strong bull markets, but a demonstrated tendency to hold or gain value during exactly the periods — inflation spikes, currency crises, geopolitical shocks — when riskier assets tend to fall hardest.

None of this is a recommendation to hold one asset over the other — the right mix depends on your own time horizon and risk tolerance. Use the daily price table above to sanity-check any specific date, and the monthly gold price archive if you want a longer lookback than the 90 days shown on this page.