Gold vs Platinum and Palladium in an IRA

Gold, platinum and palladium are the three metals people most often compare for a metals IRA, apart from silver. They follow the same account rules but differ in the details: how the tax code treats their coins, what purity the futures exchange requires, where they are mined, and how their prices have moved. This page compares them using government data and exchange rules. It does not say which to hold. For one-metal guides see our Gold IRA overview, platinum IRA and palladium IRA pages, and for the broader set see our comparisons hub and gold vs silver page.

This page explains differences. It is not advice, and it makes no price predictions. A qualified financial adviser can help with decisions that depend on your situation.

How do the IRA rules treat the three metals?

The tax code treats "any metal or gem" and "any stamp or coin" as collectibles, with exceptions for certain coins and for bullion of a minimum fineness held by a trustee (26 U.S.C. 408(m)). The details differ by metal.

The fineness quotes come from the NYMEX rules published by CME Group for gold, platinum and palladium. The tax statute points to those exchange standards instead of printing a number, so the figures can change if the exchange changes its rules. The coin-exception row is our reading of the statute and needs professional review. The platinum statute leaves coin specifications to the Treasury Secretary, which our platinum IRA page covers, and the palladium coin reaches an IRA, if at all, through the bullion route, as our palladium IRA page explains.

Where do the metals come from?

The U.S. Geological Survey (USGS) publishes annual mineral summaries. Its 2026 data, with 2025 as an estimate, show these production figures:

Sources: USGS gold and platinum-group metals summaries. USGS says the top five gold producers accounted for 41% of 2025 world output. By our arithmetic, South Africa's 120,000 kilograms is about 71% of the 170,000 kilogram platinum total, and Russia and South Africa together are 154,000 of 190,000 kilograms, about 81%, of palladium. These shares are our calculation from rounded USGS numbers. They show that platinum and palladium supply is more concentrated than gold's. They do not say what will happen to prices.

What are the metals used for?

For platinum-group metals in the United States, USGS says "The leading domestic use for PGMs was in catalytic converters to decrease harmful emissions from automobiles." It lists other uses including chemical and petroleum catalysts, dental and medical devices, electronics, glass, investment, jewelry and laboratory equipment. The summary also says "Palladium has been used as a substitute for platinum in most gasoline-engine catalytic converters." For gold, USGS reports global consumption shares (excluding exchange-traded funds and similar investments) of jewelry 40%, physical bars 24%, central banks and other institutions 21%, official coins, medals and imitation coins 7%, and electrical and electronics 7%. See our gold supply and demand guide.

How have the prices moved?

USGS reports annual average prices in dollars per troy ounce. The platinum-group figures are "Engelhard unfabricated metal average annual prices," and the gold figures are "Engelhard's average gold price quotation for the year." The 2025 figures are marked as estimates.

This is history, not a forecast. Annual averages hide moves within a year. The figures show that the three metals did not move together: by these averages, gold's 2025 estimate is higher than its 2021 figure, platinum's is about 10% higher, and palladium's is roughly 55% lower. Those percentages are our arithmetic on rounded data. We do not predict prices and we do not say any metal is a better holding.

What about liquidity and costs?

We did not open a source that compares how easily platinum or palladium products resell against gold's, so we make no claim. What we can say from FINRA and the CFTC is general: dealer spreads can be large, and some fraudulent dealers have charged spreads above 300 percent (FINRA and CFTC). The practical step for any metal is to ask for buy and buyback quotes for the exact product in writing and compare them with the spot price.

What are common mistakes?

• Assuming all three metals qualify through the same exception. Palladium has no named coin exception in our reading.
• Reading the price table as a signal. It is history.
• Comparing prices per ounce without comparing the dealer's spread and the custodian's fees.
• Treating "IRA approved" in a sales pitch as a tax ruling.

Related questions

Can one IRA hold several metals? Section 408(m)(3) names gold, silver, platinum and palladium, so in our reading yes, if each item qualifies. How do these compare with a gold fund? See physical vs paper gold.

This page is general information. A tax professional can confirm how the exceptions apply to a particular product.