Platinum Price Prediction & Long-term Forecast

Investing in platinum is different from investing in other precious metals. It is primarily an industrial and jewelry commodity rather than an investment asset. It is essential to consider the smaller volume of the market. This applies to both spot trading and futures transactions.

By its properties, this metal somewhat resembles gold. Due to what it is proper for jewelry manufacturing. Also platinoids are used in industry. However, with a few exceptions, their application is limited to the production of catalytic converters. Therefore, the price of platinum is highly dependent on the car market situation.

Diversification is the main purpose of adding such an asset to your portfolio. It is also proper for betting on a weakening dollar.

Month
1 year
3 years

Key Findings

Key information on the platinum price outlook is summarized below:

Price Today

891.65$

Price for next year 2024

846.46$

Long-term price 2025-2030

843.3$

The cost of platinum is largely determined by the supply and demand balance. But market expectations of a recession are making serious adjustments. The best time to invest in this metal is during periods of economic growth. Platinum also plays an important role in hydrogen energy. Therefore, the development of the latter will lead to an increase in quotations.

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Platinum Price for Today

Growth

At the moment, metal quotations are on the rise. It can be an excellent asset for short-term investments and speculative deals. The increase in the price of platinum is fuelled by news about the reduction of production in South Africa. The region is the world supply leader. Problems in this region are leading to higher shortages.

Further platinum price forecast for 2023 is positive. The movement of quotations depends on several factors. The key one is the state of the global economy. The situation in China is no less important. This country is the main platinum consumer.

Minimum forecast cost

875.33 USD

Maximum Forecast Value

967.47 USD

% value change

-0.04%

Platinum Technical Analysis

To make a platinum price forecast, you can use technical analysis tools. To do so, there are such popular methods as:

Fundamental analysis

There is a table with prices for the main metals below. It allows you to compare the dynamics of platinum quotations with gold etc.

Price Day Month Year Date
Gold 2083 USD -0.063 -0.0030% +2.12% +12.26% 03.03.2024
Silver 23.14 USD -0.0015 -0.0067% +2.00% +8.75% 03.03.2024
Palladium 959.87 USD 0.00 0.00% +0.41% -33.56% 03.03.2024
Platinum 891.65 USD -0.33 -0.037% -1.46% -9.22% 03.03.2024
Copper 3.86 USD 0.00 0.00% +0.77% -5.16% 03.03.2024
Aluminum 2238.69 USD 0.00 0.00% +0.13% -6.92% 03.03.2024
Zinc 2407.81 USD 0.00 0.00% -1.59% -21.76% 03.03.2024
Nickel 17435 USD +450.00 +2.65% +5.44% -29.75% 29.02.2024

Where will be Platinum in 5 years

Falling

Experts' forecasts for platinum quotations in the next 5 years are negative. Many analyst's expect a steady falling of the metal's price. There are several reasons for this. The main ones are:

  1. Relatively weak investor interest. This metal is less popular than gold and silver.
  2. Recession expectations and lower industrial demand.
  3. Slowdown in manufacturing growth in China.
  4. Global rise in interest rates. It leads to high bond yields relative to historical levels.
  5. Investors' search for safe haven assets. Platinum cannot be categorized as such.

However, potential problems in the main sectors of metal utilization are the main negative factor. This is a decline in the production of petrol vehicles, and insufficient development of hydrogen energy. There is also a falling popularity of platinum jewelry.

The World Platinum Investment Council predicts an ever-increasing shortage of the metal. But its statements have no effect on quotations so far. Some experts are waiting for the price of an ounce to fall below $700. By the end of the five-year plan, its gradual recovery is predicted.

Date Min forecast price Max forecast price Change
01.12.2024 795.436 USD 825.273 USD -81.29 USD (-10.03%)
01.12.2025 790.639 USD 820.640 USD -4.72 USD (-0.59%)
01.12.2026 786.001 USD 815.478 USD -4.9 USD (-0.61%)
01.12.2027 780.780 USD 807.174 USD -6.76 USD (-0.85%)
01.12.2028 775.293 USD 798.460 USD -7.1 USD (-0.9%)
01.02.2029 851.118 USD 861.064 USD +69.21 USD (8.08%)

Platinum Price Prediction 2024

Falling

For 2024, experts are predicting a further decline in the value of platinum. Despite the imbalance of supply and demand, the market cannot believe in the value of this asset.

This moment can be considered proper for building up positions in the metal. However, it is possible only in 2 cases. First, when an investor is eager to make a quick profit on local rises. Second, with a long investment horizon (at least 5 years).

According to the platinum price forecast for 2024, a break of the bearish trend is unlikely. Only a short-term growth of quotations may be observed during this period.

Date Min forecast price Max forecast price Change
01.04.2024 889.687 USD 911.191 USD +8.79 USD (0.98%)
01.05.2024 892.177 USD 903.627 USD -2.54 USD (-0.28%)
01.06.2024 859.358 USD 890.986 USD -22.73 USD (-2.6%)
01.07.2024 854.287 USD 863.139 USD -16.46 USD (-1.92%)
01.08.2024 842.397 USD 860.411 USD -7.31 USD (-0.86%)
01.09.2024 802.797 USD 850.330 USD -24.84 USD (-3.01%)
01.10.2024 796.459 USD 806.254 USD -25.21 USD (-3.15%)
01.11.2024 803.147 USD 807.352 USD +3.89 USD (0.48%)
01.12.2024 795.436 USD 825.273 USD +5.11 USD (0.63%)

Platinum Price Prediction 2025

Falling

The outlook for platinum prices in 2025 is negative. As the experts believe, the year will be difficult for the whole market. It will be under the influence of bears due to geopolitical uncertainty.

All negative factors that affect platinum quotations are expected to persist. When production levels recover or consumption is reduced, the value of the metal will fall even further.

Date Min forecast price Max forecast price Change
01.01.2025 829.479 USD 871.784 USD -41.01 USD (-4.82%)
01.02.2025 873.373 USD 901.762 USD +36.94 USD (4.16%)
01.03.2025 870.651 USD 896.327 USD -4.08 USD (-0.46%)
01.04.2025 883.753 USD 906.063 USD +11.42 USD (1.28%)
01.05.2025 887.928 USD 899.341 USD -1.27 USD (-0.14%)
01.06.2025 853.644 USD 886.932 USD -23.35 USD (-2.68%)
01.07.2025 849.227 USD 857.923 USD -16.71 USD (-1.96%)
01.08.2025 836.939 USD 853.053 USD -8.58 USD (-1.02%)
01.09.2025 797.712 USD 845.385 USD -23.45 USD (-2.85%)
01.10.2025 791.024 USD 801.256 USD -25.41 USD (-3.19%)
01.11.2025 798.119 USD 802.158 USD +4 USD (0.5%)
01.12.2025 790.639 USD 820.640 USD +5.5 USD (0.68%)

Platinum Price Prediction 2026

Falling

A bearish trend awaits platinum quotations in 2026. Many experts predict the metal to fall below the 2024-2025 positions. There are predictions that the price will be near five-year lows.

The main reasons for this are:

  1. growing interest in palladium as a replacement for platinum in catalysers;
  2. reduced production of diesel vehicles requiring platinum;
  3. negative expectations regarding the overall economic situation.
Date Min forecast price Max forecast price Change
01.01.2026 824.305 USD 866.141 USD -46.42 USD (-5.49%)
01.02.2026 867.168 USD 897.248 USD +36.99 USD (4.19%)
01.03.2026 865.764 USD 892.866 USD -2.89 USD (-0.33%)
01.04.2026 879.406 USD 900.698 USD +10.74 USD (1.21%)
01.05.2026 883.598 USD 891.943 USD -2.28 USD (-0.26%)
01.06.2026 848.409 USD 882.798 USD -22.17 USD (-2.56%)
01.07.2026 843.863 USD 852.539 USD -17.4 USD (-2.05%)
01.08.2026 831.664 USD 847.532 USD -8.6 USD (-1.02%)
01.09.2026 794.223 USD 840.183 USD -22.4 USD (-2.74%)
01.10.2026 785.779 USD 796.200 USD -26.21 USD (-3.31%)
01.11.2026 793.133 USD 797.010 USD +4.08 USD (0.51%)
01.12.2026 786.001 USD 815.478 USD +5.67 USD (0.71%)

Platinum Price Prediction 2027

Falling

Platinum quotations are forecast to decline significantly in 2027. This negative outlook is caused by a combination of factors. The key one is the belief that industrial demand for the metal will decline. The bearish trend will also be supported by investors' desire to use protective financial instruments.

Date Min forecast price Max forecast price Change
01.01.2027 815.987 USD 860.621 USD -53.34 USD (-6.36%)
01.02.2027 861.157 USD 892.368 USD +38.46 USD (4.39%)
01.03.2027 861.253 USD 889.107 USD -1.58 USD (-0.18%)
01.04.2027 873.894 USD 895.243 USD +9.39 USD (1.06%)
01.05.2027 878.582 USD 886.888 USD -1.83 USD (-0.21%)
01.06.2027 844.594 USD 877.963 USD -21.46 USD (-2.49%)
01.07.2027 838.658 USD 847.475 USD -18.21 USD (-2.16%)
01.08.2027 826.592 USD 843.611 USD -7.97 USD (-0.95%)
01.09.2027 790.215 USD 834.762 USD -22.61 USD (-2.78%)
01.10.2027 780.757 USD 791.070 USD -26.57 USD (-3.38%)
01.11.2027 788.128 USD 792.147 USD +4.22 USD (0.53%)
01.12.2027 780.780 USD 807.174 USD +3.84 USD (0.48%)

Long Term Gold Forecast From 2030 to 2050

Experts consider this metal to be an asset proper for the investment portfolio diversification. The long-term price forecast for platinum is positive. It is obvious that in 2050 its value will be much higher than the current one. There are several reasons for this:

  1. Increase in demand due to the transition to a "hydrogen economy". The term was coined as a counterbalance to the "hydrocarbon economy". According to eco-activists, hydrogen can completely replace fossil fuels. Platinum is needed to catalyze energy cells. It is believed that this application will replace its use in neutralisers for diesel powered vehicles.
  2. Reduced supply. The main reason is operational challenges at mines in South Africa. This region is the world's main platinum supplier. In addition, platinum reserves are much smaller than those of gold and silver.
  3. Rising investment demand. The correlation of securities has been increasing in recent years. Market participants are expected to see platinum as a way to diversify.

It is argued that the real commodity is a defense against the depreciation of the US dollar. Platinum is generally not recommended as a way to save money during periods of high inflation. But its advantage is that it has intrinsic value. Its price cannot fall to zero.

Platinum Projections For Next 10 Years

During the next 10 years, experts foresee a long-term increase of the asset's quotations. Given its background, local or medium-term corrections are possible. In particular at the beginning of the decade. But eventually the drawdowns will be redeemed.

The consensus forecast for the value of platinum in 2033 is about $2000. That's about 140% higher than the current prices. Thus, this metal is unlikely to help boost capital much. The returns expected are not much higher than the broad stock market. And the risks involved are considerably higher.

On the horizon of 10 years, platinum can be considered only as a diversification tool. Nevertheless, some experts believe in the rapid development of green hydrogen energy. Under their forecasts, the value of this metal is severely undervalued.

Platinum price prediction 2030

In the year 2030, analysts promise to see the troy ounce of platinum in the range of $1500-$1600. This is only 90 per cent higher than the current level. Moreover, it is noticeably lower than the historical maximums.

There are also more optimistic experts. They call figures of $3500-$4000 per ounce. But such a prediction of platinum prices forecast 2030 looks too optimistic.

It is believed that the cost of this metal is determined by the supply and demand ratio. But the year of 2023 has demonstrated other factors to be stronger. Despite the growing deficit, quotations are not going up. Therefore, a moderate forecast looks more likely.

Platinum forecast 2040

The platinum price forecast for 2040 is positive. Experts believe that the metal's value will definitely be higher than the current one. The main bullish factors:

  • inflation, driving all real asset prices upwards;
  • decline in reserves;
  • hydrogen energy development.

A separate question is the Рост rates of quotations. Most analysts agree upon the fact that they will remain modest. The consensus forecast is 10-15% per year on average, taking into account local drawdowns. They fail to forecast multiple appreciation of platinum like gold.

The situation may change radically when new technologies appear. When demand for the metal increases, its value will rise more than expected.

Platinum Future price 2050

Experts give an optimistic outlook for platinum pricing in 2050. Most analysts believe that the demand for the metal will grow over the long horizon. They also believe that its scarcity will start to have a serious impact on the market.

When such a thing happens, platinum will prove to be a good long-term investment. But the longer the time horizon, the less reliable are the forecasts of platinum futures prices. Therefore, experts find it difficult to give exact figures.

Analysts note that since 2015, the cost of platinum has been moving within a narrow range. It is less volatile than gold quotations. Therefore, "platinum" investment instruments are recommended for diversification and hedging.

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About Platinum

Platinum

Platinum is the third most popular precious metal. But investing in this asset has a number of peculiarities that need to be taken into account:

  1. It is an industrial jewelry commodity. It has low investment demand. Bullion bars and coins account for only 10-15% of production.
  2. The asset is less liquid than gold and silver due to lower investor interest.
  3. The main reserves of platinum are in South Africa. The level of production is highly dependent on the situation in this region

More than 40% of platinum mined is used to produce catalytic converters for diesel powered vehicles. The strengthening position of eco-activists has a twofold impact on the consumption of this metal.

On the one hand, electric cars are replacing diesel. On the other hand, the hydrogen economy cannot do without platinum. Therefore, the demand for the metal in the future will depend on the future course of green energy development.

Ювелирная промышленность является вторым по величине потребителем платины. На ее долю приходится более трети объема добычи. Китай играет ведущую роль. Мировое потребление зависит, среди прочего, от популярности платиновых ювелирных изделий.

These factors have a stronger influence on quotations than stock exchange speculation. But one should remember that platinum is a good diversification option. It can be used to hedge the risks of investing in other metals. It has a negative correlation with gold (insignificant) and palladium (quite noticeable).

Platinum began to be used as an investment asset only in the second half of the XX century. Nowadays, one can invest in it in a large number of ways. For example, through:

  • purchasing physical metal in the form of bars and coins;
  • purchasing stocks of ETFs with net assets consisting of bullion;
  • opening a metal account;
  • investing in stocks of companies involved in platinum mining;
  • using complex instruments, such as speculation in futures or trading cdfs.

Platinum Price History Chart

Key dates

Year 2008

In February 2008, the cost of platinum reached an all-time high of $2150. This year was characterized by a shortage of physical metal. At the same time, there was high market volatility. As a result of the crisis, the price more than halved by September 2008 (to $1000).

Year 2011

In April 2011, the cost of a troy ounce of platinum reached $1875. This is the maximum shown by quotations after 2008. Since then, the metal price has been in a pronounced downtrend, which lasted until 2015.

Year 2015

The bearish cycle in the platinum market has come to an end. Quotes have moved into a prolonged sideways trend. The price of an ounce as of December 2015 practically remained the same as in November 2023.

What Influences Platinum Price

State of economy

It is primarily an industrial and jewelry metal. When the market expects a recession and lower production, the value of platinum falls. Demand from the jewelry industry is also unstable. Platinum is now cheaper than gold, and items made of it are not considered elite.

Market situation

The cost of platinum rises when palladium, gold and oil prices drop. This is due to the fact that platinum consumption by industry increases during such periods.

Technical achievements

Advances in technology are creating new applications for platinum. As a result, its value is increasing. Hence, quotations are also rising. For example, hydrogen energy is one of the newest applications.

"Green" policy

As emissions regulations have become stricter, the need for platinum neutralisers has grown. But the growing popularity of electric vehicles is jeopardizing the popularity of this metal.

Supply and demand ratio

When platinum production fails to cover consumption, there is a threat of shortages. Amid fears of a shortage of physical metal, the price rises. But when this is accompanied by expectations of a recession, there is little or no impact on quotations. This was clearly seen in 2008 and 2023.

The problems in South Africa have a direct impact on platinum mining. It can be argued that the price of the metal depends on the well-being of this region. But this only happens when the global economic situation is stable.

Is Platinum A Good Investment

Short-term

(1-6 month)

The platinum price forecast for the next week is positive. Instruments related to it are an excellent option for short-term investments. Bearish trend in the market is unlikely. Metal quotations are trending upwards. Investors increasing interest in alternative assets contributes to this.

Medium-term

(6-12 month)

On the horizon of 6-12 months, the value of an ounce is expected to grow. Many experts believe that the platinum market will show a bullish trend. They argue that production is declining and consumption of the metal is growing. Technical indicators also point to the advisability of investing in this asset.

Long-term

(1 year+)

The platinum price forecast for 2024 and beyond is positive. At the moment, the metal is undervalued. Industry specialists expect the price of an ounce to remain above $1000 in the future. Many predict a return to the $1800-$2000 levels.

FAQ

Where is the platinum price heading?

3In the second half of 2023, platinum quotations have been declining. Small regional rises failed to bring the price back to the $1,000 mark. But experts predict a reversal of the trend.

Is platinum a good investment for the future?

Since 2015, quotes for this metal have been in positive territory. It brings no profit to long-term investors. But experts believe that platinum is now undervalued. The current moment is proper for long-term investments.

Why is platinum going down in value?

This most often happens during economic crises. The value also falls when platinum production exceeds the demand level.

Will platinum ever be worth more than gold

Such a period has already taken place in the past. But it is not likely to happen again. There are no fundamental factors for such a return. It may happen when production levels fall sharply.

What is the best precious metal to buy right now?

For the precious metals market beginners, experts recommend investing in gold. Platinum is proper for those who have positions in other alternative assets. It is used primarily for diversification purposes.

How much will platinum be worth in 2030

Analysts now promise more modest figures than a few years ago. The average platinum price forecast for 2030 is at the level of $1500-$1600. But more optimistic predictions can also be found.

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