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Condensed Statement of Changes in Net Assets (USD $)
In Thousands, except Share data, unless otherwise specified
 3 Months Ended 12 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Dec. 31, 2014
Condensed Statement of Changes in Net Assets [Abstract]      
Opening balance (in Shares) 5,150,000us-gaap_SharesOutstanding [1] 7,350,000us-gaap_SharesOutstanding [1] 7,350,000us-gaap_SharesOutstanding [1]
Creations (in Shares) 0us-gaap_StockIssuedDuringPeriodSharesNewIssues   250,000us-gaap_StockIssuedDuringPeriodSharesNewIssues [1]
Redemptions (in Shares) (400,000)us-gaap_StockRedeemedOrCalledDuringPeriodShares   (2,450,000)us-gaap_StockRedeemedOrCalledDuringPeriodShares [1]
Closing balance (in Shares) 4,750,000us-gaap_SharesOutstanding   5,150,000us-gaap_SharesOutstanding [1]
Opening balance $ 398,834us-gaap_StockholdersEquity [1] $ 463,337us-gaap_StockholdersEquity [1] $ 463,337us-gaap_StockholdersEquity [1]
Effect of adoption of new accounting principle (see Note 2.1)     46,877us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfAdoptionQuantification [1]
Net investment loss (548)pall_NetInvestmentGainLoss (754)pall_NetInvestmentGainLoss (2,983)pall_NetInvestmentGainLoss [1]
Realized gain on investment in palladium 7,557us-gaap_RealizedInvestmentGainsLosses   29,661us-gaap_RealizedInvestmentGainsLosses [1]
Change in unrealized (loss) / gain on investment in palladium (39,675)pall_ChangeInUnrealizedGainLossOnInvestmentInBullion 36,292pall_ChangeInUnrealizedGainLossOnInvestmentInBullion 28,269pall_ChangeInUnrealizedGainLossOnInvestmentInBullion [1]
Change in unrealized (loss) gain on unsettled creations or redemptions (190)pall_ChangeInUnrealizedGainOnUnsettledCreationsOrRedemptions   190pall_ChangeInUnrealizedGainOnUnsettledCreationsOrRedemptions [1]
Creations 0us-gaap_StockIssuedDuringPeriodValueNewIssues   19,757us-gaap_StockIssuedDuringPeriodValueNewIssues [1]
Redemptions (30,427)us-gaap_StockRedeemedOrCalledDuringPeriodValue   (186,274)us-gaap_StockRedeemedOrCalledDuringPeriodValue [1]
Closing balance $ 335,551us-gaap_StockholdersEquity   $ 398,834us-gaap_StockholdersEquity [1]
[1] Effective January 1, 2014, the Trust has adopted the provisions of Topic 946, Investment Companies, and follows specialized accounting. Refer to Note 2.1 for additional information.