The line graph depicts the fluctuating costs of three precious metals (Gold, Platinum, and Palladium) over the period of eight years between 2013 and 2021.
Overall, the price of Palladium has shown a significant increase over the years, initially being less costly compared to Gold and Platinum. Although the costs of Gold and Platinum declined in the initial years, Gold experienced slight growth later on. In contrast, the cost of Platinum decreased throughout the period, making it less costly than both Gold and Palladium by the end.
Palladium was priced around $550 per ounce in 2013. It remained steady at just above $500 per ounce until 2016. Afterward, it experienced a sharp rise, peaking at just under $2,500 per ounce in the final year, 2021.
Additionally, the costs of Gold and Platinum followed a similar pattern in the beginning years. Both were priced at just under $1,500 per ounce in 2013 and showed a reduction in cost until 2014. However, the price of Gold overtook Platinum in 2015 and gradually increased until 2019, reaching about $1,750 per ounce in 2021. Meanwhile, the cost of Platinum declined steadily from 2015 to 2020, with a slight increase to just over $1,000 per ounce afterward.