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
986.22$
Price for next year 2024
992.15$
Long-term price 2025-2030
894.89$
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.
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
872.55 USD
Maximum Forecast Value
964.39 USD
% value change
0.37%
Platinum Technical Analysis
To make a platinum price forecast, you can use technical analysis tools. To do so, there are such popular methods as:
various oscillators;
trend indicators;
pivot points;
moving averages, etc.
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.
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:
Relatively weak investor interest. This metal is less popular than gold and silver.
Recession expectations and lower industrial demand.
Slowdown in manufacturing growth in China.
Global rise in interest rates. It leads to high bond yields relative to historical levels.
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.
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
01.07.2024
942.822 USD
950.860 USD
-39.38 USD (-4.16%)
01.08.2024
927.943 USD
948.109 USD
-8.81 USD (-0.94%)
01.09.2024
886.889 USD
936.149 USD
-26.51 USD (-2.91%)
01.10.2024
880.684 USD
889.110 USD
-26.62 USD (-3.01%)
01.11.2024
885.889 USD
890.595 USD
+3.35 USD (0.38%)
01.12.2024
878.160 USD
907.545 USD
+4.61 USD (0.52%)
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
911.503 USD
953.387 USD
-53.78 USD (-5.77%)
01.02.2025
953.612 USD
973.398 USD
+31.06 USD (3.22%)
01.03.2025
948.006 USD
969.091 USD
-4.96 USD (-0.52%)
01.04.2025
960.457 USD
982.238 USD
+12.8 USD (1.32%)
01.05.2025
964.874 USD
974.718 USD
-1.55 USD (-0.16%)
01.06.2025
929.272 USD
963.483 USD
-23.42 USD (-2.47%)
01.07.2025
923.661 USD
931.833 USD
-18.63 USD (-2.01%)
01.08.2025
908.730 USD
926.898 USD
-9.93 USD (-1.08%)
01.09.2025
867.929 USD
917.408 USD
-25.15 USD (-2.82%)
01.10.2025
861.466 USD
870.350 USD
-26.76 USD (-3.09%)
01.11.2025
867.287 USD
871.687 USD
+3.58 USD (0.41%)
01.12.2025
859.440 USD
889.103 USD
+4.78 USD (0.55%)
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:
growing interest in palladium as a replacement for platinum in catalysers;
reduced production of diesel vehicles requiring platinum;
negative expectations regarding the overall economic situation.
Date
Min forecast price
Max forecast price
Change
01.01.2026
892.752 USD
934.195 USD
-72.75 USD (-7.96%)
01.02.2026
934.120 USD
954.874 USD
+31.02 USD (3.28%)
01.03.2026
929.292 USD
951.415 USD
-4.14 USD (-0.44%)
01.04.2026
942.273 USD
963.149 USD
+12.36 USD (1.3%)
01.05.2026
946.909 USD
953.457 USD
-2.53 USD (-0.27%)
01.06.2026
910.176 USD
945.743 USD
-22.22 USD (-2.39%)
01.07.2026
904.650 USD
912.642 USD
-19.31 USD (-2.13%)
01.08.2026
889.723 USD
907.548 USD
-10.01 USD (-1.11%)
01.09.2026
850.586 USD
898.396 USD
-24.14 USD (-2.76%)
01.10.2026
842.422 USD
851.555 USD
-27.5 USD (-3.25%)
01.11.2026
848.441 USD
852.704 USD
+3.58 USD (0.42%)
01.12.2026
840.934 USD
870.362 USD
+5.08 USD (0.59%)
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
870.619 USD
915.045 USD
-93.39 USD (-10.46%)
01.02.2027
914.666 USD
936.072 USD
+32.54 USD (3.52%)
01.03.2027
910.909 USD
933.491 USD
-3.17 USD (-0.34%)
01.04.2027
923.020 USD
943.800 USD
+11.21 USD (1.2%)
01.05.2027
927.915 USD
934.782 USD
-2.06 USD (-0.22%)
01.06.2027
892.621 USD
926.862 USD
-21.61 USD (-2.38%)
01.07.2027
885.804 USD
893.851 USD
-19.91 USD (-2.24%)
01.08.2027
870.940 USD
889.893 USD
-9.41 USD (-1.07%)
01.09.2027
832.953 USD
879.152 USD
-24.36 USD (-2.85%)
01.10.2027
823.588 USD
832.708 USD
-27.9 USD (-3.37%)
01.11.2027
829.640 USD
833.731 USD
+3.54 USD (0.43%)
01.12.2027
822.245 USD
848.241 USD
+3.56 USD (0.43%)
Long-term Platinum price 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:
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.
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.
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.
About 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:
It is an industrial jewelry commodity. It has low investment demand. Bullion bars and coins account for only 10-15% of production.
The asset is less liquid than gold and silver due to lower investor interest.
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.
The jewelry industry is the second largest consumer of platinum. It accounts for more than a third of the production volume. China plays a leading role. Global consumption depends, among other things, on the popularity of platinum jewelry.
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.
