Platinum Price Forecast & Long-term Predictions

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

1008.41$

Price for next year 2024

1023.03$

Price for 2025

986.59$

Long-term price 2025-2030

951.76$

  • 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. During such periods, the demand for this metal is growing.
  • Platinum also plays an important role in hydrogen energy. Therefore, the development of the latter will lead to an increase in quotations.
  • The expectations for the next 4 weeks are neutral.

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 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 forecast 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

901.19 USD

Maximum Forecast Value

996.06 USD

% value change

0%

Platinum Technical Analysis

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


Below is a recommendation to buy/sell this asset. It is based on the data of the most popular technical market analysis tools.

On the weekly time frame chart, the quotes reach the upper line of the Bollinger Bands indicator. RSI and MACD oscillators signal to buy. On the lower time frames there are also buy signals.

It allows experts to promise growth of quotations in the nearest months. There are reasons to believe that the upward trend observed since the beginning of February will continue. Platinum's rating is Strong Buy.

If the uptrend breaks, support levels may come at $928.2, $913.00, $901.10.

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 2411.11 USD +0.14 +0.0057% +4.60% +23.24% 14.07.2024
Silver 30.79 USD -0.0025 -0.0080% +6.55% +24.15% 14.07.2024
Palladium 968.23 USD -0.000094 -0.0000097% +8.56% -24.04% 14.07.2024
Platinum 1008.41 USD 0.00 0.00% +5.47% +3.54% 14.07.2024
Copper 4.56 USD 0.00 0.00% +1.67% +16.19% 14.07.2024
Aluminum 2478.36 USD 0.00 0.00% -2.59% +8.87% 14.07.2024
Zinc 2917.1 USD 0.00 0.00% +2.72% +19.60% 14.07.2024
Nickel 16630 USD +5.00 +0.030% -6.76% -21.37% 13.07.2024

Where will be Platinum in 5 years

Growth

The analysts’ promises for 2024 and beyond is positive. Growing scarcity is the main driver of this. The reduction in consumption by industry is unlikely to compensate for it. Despite expectations, on the contrary, the demand for this metal is growing.

The World Platinum Investment Council issued another forecast in January 2024. According to WPIC, the shortage of the metal will soon amount to 12% of annual consumption. That is, it will be higher than last year. This allows us to hope that the current price will not last long.

Experts believe that quotations will start to grow. A steady upward trend is expected in the following years. Forecasts promise to bring the cost closer to the historical maximum. A number of experts are convinced that the potential of this metal has not been fully appreciated by the market.

Date Min forecast price Max forecast price Change
01.12.2024 942.712 USD 972.569 USD -50.77 USD (-5.3%)
01.12.2025 921.567 USD 951.519 USD -21.1 USD (-2.25%)
01.12.2026 900.640 USD 930.212 USD -21.12 USD (-2.31%)
01.12.2027 879.558 USD 905.770 USD -22.76 USD (-2.55%)
01.12.2028 857.782 USD 880.976 USD -23.29 USD (-2.68%)
01.07.2029 904.092 USD 907.760 USD +36.55 USD (4.03%)

Platinum Price Prediction 2024

Falling

For 2024, experts are predicting a further decline in the value of this metal. 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 expectations 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
01.09.2024 951.710 USD 1000.487 USD -32.31 USD (-3.31%)
01.10.2024 945.287 USD 953.800 USD -26.56 USD (-2.8%)
01.11.2024 950.702 USD 955.134 USD +3.37 USD (0.35%)
01.12.2024 942.712 USD 972.569 USD +4.72 USD (0.49%)

Platinum Price Prediction 2025

Falling

The outlook for 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 976.421 USD 1019.088 USD -10.65 USD (-1.07%)
01.02.2025 1019.720 USD 1037.619 USD +30.92 USD (3.01%)
01.03.2025 1008.109 USD 1032.687 USD -8.27 USD (-0.81%)
01.04.2025 1021.167 USD 1042.953 USD +11.66 USD (1.13%)
01.05.2025 1029.788 USD 1037.317 USD +1.49 USD (0.14%)
01.06.2025 994.549 USD 1027.624 USD -22.47 USD (-2.22%)
01.07.2025 988.023 USD 993.441 USD -20.35 USD (-2.05%)
01.08.2025 971.349 USD 988.610 USD -10.75 USD (-1.1%)
01.09.2025 930.300 USD 979.268 USD -25.2 USD (-2.64%)
01.10.2025 923.591 USD 932.629 USD -26.67 USD (-2.87%)
01.11.2025 929.439 USD 933.743 USD +3.48 USD (0.37%)
01.12.2025 921.567 USD 951.519 USD +4.95 USD (0.53%)

Platinum Price Prediction 2026

Falling

A bearish trend awaits 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 955.104 USD 997.397 USD -32.16 USD (-3.29%)
01.02.2026 997.737 USD 1016.892 USD +31.06 USD (3.08%)
01.03.2026 987.020 USD 1012.852 USD -7.38 USD (-0.74%)
01.04.2026 1000.360 USD 1021.509 USD +11 USD (1.09%)
01.05.2026 1009.709 USD 1016.191 USD +2.02 USD (0.2%)
01.06.2026 972.960 USD 1007.817 USD -22.56 USD (-2.28%)
01.07.2026 966.847 USD 973.099 USD -20.42 USD (-2.1%)
01.08.2026 949.990 USD 967.140 USD -11.41 USD (-1.19%)
01.09.2026 910.368 USD 957.792 USD -24.49 USD (-2.62%)
01.10.2026 902.078 USD 911.418 USD -27.33 USD (-3.01%)
01.11.2026 908.180 USD 912.278 USD +3.48 USD (0.38%)
01.12.2026 900.640 USD 930.212 USD +5.2 USD (0.57%)

Platinum Price Prediction 2027

Falling

Quotations are expected 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 930.650 USD 975.748 USD -55.21 USD (-5.79%)
01.02.2027 975.815 USD 995.869 USD +32.64 USD (3.31%)
01.03.2027 966.296 USD 992.758 USD -6.32 USD (-0.64%)
01.04.2027 978.764 USD 999.792 USD +9.75 USD (0.99%)
01.05.2027 987.910 USD 994.910 USD +2.13 USD (0.22%)
01.06.2027 952.757 USD 986.305 USD -21.88 USD (-2.26%)
01.07.2027 945.800 USD 952.708 USD -20.28 USD (-2.14%)
01.08.2027 928.845 USD 946.885 USD -11.39 USD (-1.21%)
01.09.2027 890.190 USD 936.103 USD -24.72 USD (-2.71%)
01.10.2027 880.786 USD 890.147 USD -27.68 USD (-3.13%)
01.11.2027 886.970 USD 890.999 USD +3.52 USD (0.4%)
01.12.2027 879.558 USD 905.770 USD +3.68 USD (0.41%)

Platinum Price Prediction 2028

For 2028, both bearish and bullish scenarios are being made. The WPIC predicts a deficit of 500,000 ounces in 2028, which will lead to a reduction in metal reserves and an increase in prices.

Target prices from various analysts include:

  • Long Forecast expects a peak price level of $1258 at the beginning of the year, followed by a gradual decline;
  • Coin Price Forecast predicts a rise to $1,429 by the end of 2028;
  • Macquarie predicts levels around $1250.

Bears anticipate that the growth rate of demand for the metal will slow down. This is expected to result in prices falling below $900. Additionally, bearish models take into account trends from the last decade, which was unfavorable for the market.

Date Min forecast price Max forecast price Change
01.01.2028 915.667 USD 954.112 USD -73.52 USD (-7.86%)
01.02.2028 953.963 USD 974.554 USD +29.37 USD (3.05%)
01.03.2028 944.959 USD 971.233 USD -6.16 USD (-0.64%)
01.04.2028 962.099 USD 978.306 USD +12.11 USD (1.25%)
01.05.2028 966.254 USD 973.489 USD -0.33 USD (-0.03%)
01.06.2028 929.182 USD 965.804 USD -22.38 USD (-2.36%)
01.07.2028 924.341 USD 929.257 USD -20.69 USD (-2.23%)
01.08.2028 907.924 USD 925.444 USD -10.12 USD (-1.1%)
01.09.2028 866.885 USD 914.530 USD -25.98 USD (-2.92%)
01.10.2028 859.747 USD 868.800 USD -26.43 USD (-3.06%)
01.11.2028 865.687 USD 869.873 USD +3.51 USD (0.4%)
01.12.2028 857.782 USD 880.976 USD +1.6 USD (0.18%)

Long-Term Platinum Price Forecast 2030 to 2050

Experts consider this metal to be an asset proper for the investment portfolio diversification. The long-term price forecast 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, this metal 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. This metal 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

The global platinum market size is projected to reach USD 11.95 billion by 2031.

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 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 predictions, the value of this metal is severely undervalued.

Platinum price prediction 2030

In the year 2030, analysts promise to see the troy ounce 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 expectations look more likely.

Platinum forecast 2040

The expectations for 2040 are 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 growth 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 promise 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 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, this metal will prove to be a good long-term investment. But the longer the time horizon, the less reliable are the forecasts of futures prices. Therefore, experts find it difficult to give exact figures.

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

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 are in South Africa. The level of production is highly dependent on the situation in this region.

More than 40% of 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. It accounts for more than a third of the mined volume. China plays the 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 metal 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:

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 falls. Demand from the jewelry industry is also unstable. Platinum is now cheaper than gold, and items made of it are not considered elite.

Supply and demand ratio

When 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 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.

Technical achievements

Advances in technology are creating new applications for this metal. 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.

Market situation

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

Is Platinum A Good Investment

Short-term

(1-6 month)

The prediction for next week is negative. A bearish rally continues in the market of this metal. Between April and November 2023, it lost almost a quarter of its value. But quotations are still seeking to update the local minimum. The reason is the persistence of negative expectations about recession. Production cuts will lead to a global surplus of metal supply on the market.

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 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 prediction for 2024 and beyond is negative. Experts believe the boom in the market of this metal ended in 2011. There is no reason to expect its resumption. The economic situation is unlikely to favor this. Also, many investors fear the demand will decrease. This means that they are reluctant to make long-term investments in this asset.

FAQ

Where is the platinum price heading?

In the second half of 2023, 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, quotations of this metal have been in a sidewall. It brings no profit to long-term investors. But experts believe that asset 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 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 forecast for 2030 is at the level of $1500-$1600. But more optimistic predictions can also be found.

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