The fixing of palladium in London, session by session
For the session of September 3, 2026, the PM fixing is $4,467.15 per troy ounceThat's £3,306.14 and €3,843.54 for the same ounce, or €38,03 per gram of fine metal. These three values are those published by the LBMA; no conversion has been made on our end.
Palladium is auctioned twice a day in London, immediately following the platinum auctions. The resulting price serves as the benchmark for settling a market dominated by industrial demand.
| Format | Métal fin | Valeur au fixing, en euros | datasheet |
|---|---|---|---|
| 1 kilogram ingot | 1 000 g | 38 030 € | See the ingot |
| 500 gram ingot | 500 g | 19 015 € | See the ingot |
| 100 gram ingot | 100 g | 3 803 € | See the ingot |
| 50 gram ingot | 50 g | 1 901 € | See the ingot |
| 10 gram ingot | 10 g | 380,30 € | See the ingot |
| One troy ounce coin | 31,1035 g | 1 183 € | See the ingot |
| 1 gram of fine metal | 1 g | 38,03 € |
| Meeting | Heure de Londres | Dollar / once | Livre / once | Euro / once | Euro / gramme | Euro / lingot de 1 kg |
|---|---|---|---|---|---|---|
| Morning session (AM) | 9 h 45 | 1 373,950 $ | 1 017,550 £ | 1 183,520 € | 38,051 € | 38 051 € |
| Afternoon (PM) session | 14 h 00 | 1 375,100 $ | 1 017,440 £ | 1 182,860 € | 38,030 € | 38 030 € |
The currency selector here is for a currency published by the LBMA itself: the displayed amounts are published prices, reproduced without adjustment. The trading session table shows the three publication currencies side by side.
The fixing is a market reference for palladium deliverable between professionals, with a minimum fineness of 999,5 thousandths.
Buy, sell or track palladium
The estimate is free and without obligation, and the calculation will be provided to you in writing. Our experts are available to meet with you at our network of branches in France and Belgium.
How palladium fixing is stopped
The fixing price is not an average of quotes gathered from various sources; it is the result of an auction. Two auctions are held every business day, at 9:45 a.m. and 14:00 p.m. London time. The palladium auction opens immediately after the platinum price is published, within the same timeframe. The administrator announces an opening price, participants declare the volumes they are willing to buy and sell, and the price is adjusted round by round until the imbalance between buying and selling falls below a defined threshold. The final price of the auction becomes the session's fixing price.
Who administers it
The auctions are administered by ICE Benchmark Administration, a subsidiary of Intercontinental Exchange, on behalf of the LBMA—the London Bullion Market Association, which retains ownership of the indices and sets the market accreditation rules. IBA took over these two auctions from the London Metal Exchange on 1er July 2026, the previous operator having chosen to refocus on base metals. Accredited banks and trading houses participate directly; orders are aggregated and anonymous, and the progress of the auction is broadcast in real time.
In what currency
The price is given in US dollars, per troy ounce of 31,1035 grams. The administrator then publishes the same price in pounds sterling and euros: these two values are indicative settlement prices, they do not result from an auction in those currencies. A French reader who wants the price per gram therefore divides the value in euros by 31,1035, which is what this page does.
What is it for?
A fixed price, known to all, enforceable, and archived, is essential whenever it's necessary to value inventory on the balance sheet, conduct a stocktaking, settle a contract indexed to the metal, or establish the value of a guarantee. This is why the fixing price serves as a reference point where the spot price, which changes from second to second, cannot be used: a contract cannot be signed at a price that no longer exists on the next line.
What separates the fixing from the spot price
The two figures describe the same metal at the same time, yet they never quite coincide. The fixing price is an equilibrium price set at a precise moment; the closing price we publish is recorded at the end of the day, after the last session in London, on a market that continues to trade. Rather than describing this difference, let's measure it.
| Reference | Date | Euro / gramme |
|---|---|---|
| Fixing PM of London | 3 septembre 2026 | 38,030 € |
| Closing price published by GOLDMARKET | 4 septembre 2026 | 38,252 € |
| Difference between closing price and fixing price | séances différentes | +0,58 % |
The two values do not relate to the same session: the fixing of September 3, 2026 is compared to the reading of September 4, 2026. The difference shown therefore combines the time difference and the market movement between the two dates.
The same exercise is carried out from one session to another within the same day. Over the last 40 sessions recorded, from July 10, 2026 to September 3, 2026, the difference between the morning and afternoon fixing prices averaged 0,88% in absolute value, with a maximum of +4,50% on August 28, 2026. This is the order of magnitude of what choosing one session over another costs, or gains, when finalizing a valuation.
Palladium fixing, currency by currency
The palladium fixing is unique: only the currency being read changes. A difference between currencies reflects the exchange rate of the day, not a market difference. We dedicate a separate page to each currency, updated at the same frequency as this one.
| Currency | Areas | 1 gramme de palladium fin | 1 € vaut |
|---|---|---|---|
| The palladium fixing in US dollarsUSD · column published by the administrator | USA | 44,21 $ | 1,1615 $ |
| The price of palladium in pounds sterlingGBP · column published by the administrator | United Kingdom | 32,71 £ | 0,8606 £ |
The auction is conducted in US dollars; the pound sterling is published by the administrator as the indicative settlement price. These columns are reproduced verbatim, without any alteration by us. Source of trading sessions: LBMA public series, auctions administered by ICE Benchmark Administration. Source of rates: European Central Bank daily benchmarks.
What the series published since 1990 says
The LBMA publishes all of its past auctions online. For palladium, the series for the reference session comprises 9,137 quotes, the first dating back to April 2, 1990. This depth of data allows for a more accurate assessment of the current price than a mere intuition.
| Year | Dernière séance | EUR / once | EUR / gramme | Variation sur un an |
|---|---|---|---|---|
| 2026 | 3 septembre 2026 | 1 182,86 € | 38,03 € | −16,2 % |
| 2025 | 31 décembre 2025 | 1 411,56 € | 45,38 € | +61,3 % |
| 2024 | 30 décembre 2024 | 874,88 € | 28,13 € | −14,6 % |
| 2023 | 28 décembre 2023 | 1 024,35 € | 32,93 € | −38,5 % |
| 2022 | 29 décembre 2022 | 1 665,10 € | 53,53 € | −4,6 % |
| 2021 | 30 décembre 2021 | 1 746,02 € | 56,14 € | −8,3 % |
| 2020 | 30 décembre 2020 | 1 903,29 € | 61,19 € | +11,8 % |
| 2019 | 30 décembre 2019 | 1 701,65 € | 54,71 € | +53,6 % |
| 2018 | 28 décembre 2018 | 1 108,20 € | 35,63 € | +25,2 % |
| 2017 | 28 décembre 2017 | 884,89 € | 28,45 € | +38,1 % |
| 2016 | 29 décembre 2016 | 640,84 € | 20,60 € | +26,3 % |
| 2015 | 30 décembre 2015 | 507,54 € | 16,32 € | −23,8 % |
| 2014 | 30 décembre 2014 | 666,39 € | 21,42 € | +28,4 % |
| 2013 | 30 décembre 2013 | 519,00 € | 16,69 € | −2,6 % |
The values shown in euros are those published by the fixing administrator. Before 1999, the euro did not exist, and the source only published the dollar and the pound: the years in question are excluded from this table rather than reconstructed. Precious metal prices fluctuate.
Frequently asked questions about palladium fixing
General answers, updated as of September 3, 2026. They do not constitute investment advice or personalized tax advice.
Who is GOLDMARKET?
GOLDMARKET is a French company specializing in precious metals trading, with a network of branches in France and Belgium. We offer free appraisals of jewelry, coins, and ingots, provide a written valuation, and publish daily market prices on which our appraisals are based.
What is palladium fixing in London?
This is the reference price for palladium set by an electronic auction held at 9:45 a.m. and 14:00 p.m. London time. Participants place buy and sell orders until supply and demand balance: the final price is the one that closes the auction, not an average of bids.
Who is organizing the fixing?
The four auctions—gold, silver, platinum, and palladium—are administered by ICE Benchmark Administration, which operates them on behalf of the LBMA. IBA has administered gold and silver since 2015 and 2017, respectively, and took over platinum and palladium from the London Metal Exchange on July 1, 2026.
Is the fixing published in euros?
Yes, but indirectly. The auction is conducted in US dollars: the price is set in dollars. The administrator then publishes the same price converted into pounds sterling and euros, as indicative settlement prices. These euro values are the ones displayed on this page, without any conversion on our part.
What is the difference between the fixing price and the spot price?
The spot price fluctuates continuously throughout the day; the fixing price is a single, fixed price, established at a precise moment and binding upon trades. The former is used for arbitrage, the latter for valuing inventory, closing stocktaking, or settling a contract. The difference between the two is measured at the top of this page, as of its date.
Is the fixing the price at which GOLDMARKET buys back palladium?
No. The fixing applies to fine metal delivered between professionals in standardized lots. A piece of jewelry, a coin, or an object must be sorted, graded, and then melted down: this difference, the trade margin, is shown on the calculation document you receive. The fixing is the starting point, not the final result.
How often is this page updated?
Once per working day, after the last session has been published. Each displayed value includes the date of the session from which it comes: if the day's session has not yet been published, the previous one remains displayed, with its own date.
Since when have these prices been published?
The LBMA publishes the complete history of each auction, from 1968 for gold and silver and from 1990 for platinum and palladium. The exact depth of each series, and the date of its first point, are indicated in the history section of this page.
Explore more!
- Follow the daily price of palladium — the closing price in euros, the usual weights and the investment products.
- Gold fixing, morning and afternoon — sessions, published currencies and spread with spot, for gold.
- The single session of the silver market — sessions, published currencies and spread with spot, for silver.
- Platinum, listed just before palladium — sessions, published currencies and spread with spot, for platinum.
- London's daily four-metal chart — gold, silver, platinum and palladium on the same date, on a single page.
- palladium in the auction currency — A metal that is almost entirely industrial, and its daily settlement price.
- the sterling value disseminated for palladium — The most recent of the four London meetings, read in British currency.
Source of fixings: LBMA public series (prices.lbma.org.uk), auctions administered by ICE Benchmark Administration. Values are listed in the three currencies published by the administrator, without conversion.