The Grand Palace adjoins Wat Phra Kaew in a common compound, and is where you will end up after exiting Wat Phra Kaew. Despite the proximity of the two, there's a distinct contrast in style between the very Thai Wat Phra Kaew and the more European inspired designs of the Grand Palace (the roof being the exception).
The Grand Palace is nowadays used only for occasional ceremonial purposes and is no longer the royal residence. The present King Bhumibol (Rama IX) lives in Chitralada Palace (also closed to tourists), which is located not too far away in Bangkok's Dusit district.
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