The line graph compares the monetary value per ounce of three expensive metals from 2013 to 2021.
Overall, the price of gold and palladium experienced a rise, while platinum witnessed a decline over the period shown. Noticeably, palladium went from the cheapest out of three initially and jumped to be the most costly metal in 2021.
In 2013, gold and platinum cost around $1500 per oz. After 2 years, the prices of these metals both fell to a little above $1000; however, gold overtook platinum during this period. The price for an ounce of gold slowly went up and reached its peak of approximately $1800 in 2021, whereas the figure for platinum stabilised around $1000 for the remainder of the period.
In contrast, palladium displayed a markedly different trajectory. Although palladium remained the least expensive metal until 2017, hovering around $500 and $1000, its price surged dramatically in the following years. From 2017 to 2019,, the price of palladium overtook gold and platinum. After 8 years, the palladium category saw a three-fold increase, from around $800 to almost $2500 per ounce.
