Platinum fell to 1,646.20 USD/t.oz on December 2, 2025, down 0.99% from the previous day. Over the past month, Platinum's price has risen 5.18%, and is up 73.12% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Platinum - values, historical data, forecasts and news - updated on December of 2025.

After two years of decline, the global platinum market increased by 9% to $7,629.4B in 2024. In general, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $8,976B. From 2014 to 2024, the growth of the global market failed to regain momentum.

In 2024, the UK platinum market increased by 0.6% to $27.5B, rising for the third year in a row after three years of decline. Over the period under review, consumption, however, recorded a pronounced curtailment. Platinum consumption peaked at $41.7B in 2012; however, from 2013 to 2024, consumption stood at a somewhat lower figure.

For the third consecutive year, the Hungarian platinum market recorded growth in sales value, which increased by 0.8% to $4.1B in 2024. Over the period under review, consumption, however, showed a noticeable reduction. Over the period under review, the market hit record highs at $6.4B in 2012; however, from 2013 to 2024, consumption failed to regain momentum.

In 2024, after two years of growth, there was decline in the Swedish platinum market, when its value decreased by -1.5% to $3.7B. Over the period under review, consumption, however, recorded a pronounced downturn. Over the period under review, the market reached the peak level at $4.7B in 2012; however, from 2013 to 2024, consumption stood at a somewhat lower figure.

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Precious Metals Market Size 2025-2029

The precious metals market size is forecast to increase by US $105.3 billion, at a CAGR of 6.4% between 2024 and 2029.

Precious metals, including gold, silver, platinum, and palladium, have long been recognized as valuable assets in times of economic instability. Their inherent scarcity and durability make them an attractive investment for businesses and individuals seeking to hedge against inflation and market volatility. The market is a dynamic and evolving entity, influenced by various factors. One significant trend is the growing focus on environmental, social, and governance (ESG) issues. This concern extends to the mining and extraction processes of these metals, leading to increased scrutiny and regulatory oversight. Gold, the most commonly held precious metal, experienced a 23.3% increase in demand from institutional investors in 2020.
This surge can be attributed to a multitude of factors, including geopolitical tensions, currency devaluation, and the ongoing COVID-19 pandemic. Silver, another popular precious metal, is used extensively in industrial applications, particularly in electronics and solar panels. Its demand is influenced by technological advancements and economic conditions. Platinum and palladium, primarily used in the automotive industry for catalytic converters, face demand fluctuations based on the health of the global automotive sector. The market is subject to continuous unfolding activities, with trends and patterns evolving in response to economic, technological, and regulatory developments. As a professional, it is crucial to stay informed and adapt to these changes to make informed decisions.

Major Market Trends & Insights

APAC dominated the market and accounted for a 44% growth during the forecast period.
The market is expected to grow significantly in the US as well over the forecast period.
By the Type, the Gold sub-segment was valued at US $94.40 billion in 2023
By the Application, the Industrial sub-segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Future Opportunities: US $105.3 billion 
CAGR : 6.4%
APAC: Largest market in 2023

What will be the Size of the Precious Metals Market during the forecast period?

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Precious metals, including platinum and gold, continue to hold significant value in various industries due to their unique properties. Current market performance is marked by a steady increase in demand, with approximately 25% of global production being utilized for industrial applications. Looking ahead, future growth expectations indicate a potential 18% expansion in the market's size. A comparison of key numerical data highlights the significance of these metals. For instance, platinum's high melting point and excellent electrical conductivity make it an essential component in catalytic converters, accounting for around 40% of its total demand. In contrast, gold, with its malleability and resistance to corrosion, is widely used in jewelry and electronics, contributing to a global market value of around 1.7 trillion USD.
These metals' diverse applications and inherent value make them a vital component of numerous industries, with ongoing research and development efforts focusing on refining techniques, metallurgical engineering, and recycling processes to optimize their use and maximize their value.
The Precious Metals Market is driven by advancements in metal refining techniques and sustainable practices like precious metal recycling and precious metal waste management. Innovations such as metallographic analysis enhance quality control in producing high-purity metals, while industries leverage precious metal composites and precious metal coatings for durability and performance. Applications range from precious metal catalysts in chemical processes to gold nanoparticle synthesis in biomedical research. Manufacturing relies on precious metal forming techniques, including precious metal electroforming, alongside advanced metal finishing processes and metal surface treatments. Demand for precious metal concentrates, precious metal compounds, and precious metal salts continues to grow, while precious metal scrap recovery supports sustainability. Specialized uses such as platinum electrode fabrication and silver halide photography highlight the expanding role of precious metals across industries.

How is this Precious Metals Industry segmented?

The precious metals industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Gold
  Silver
  Platinum


Application

  Industrial
  Jewelry
  Investment


End-use Industry

  Jewelry Manufacturing
  Automotive (Catal

Global precious metals market expected to reach above USD 450 billion by 2026 and expected to increase at a CAGR of 6% from 2020 to 2026. The precious metals are a metallic element that is natural, rare, and difficult to find. Due to its rarity, precious metals have high economic value.

Rhodium rose to 8,050 USD/t oz. on December 2, 2025, up 0.94% from the previous day. Over the past month, Rhodium's price has fallen 1.23%, but it is still 75.96% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Rhodium - values, historical data, forecasts and news - updated on December of 2025.

In 2024, the Italian platinum market increased by 0.6% to $22.6B, rising for the third year in a row after three years of decline. Overall, consumption, however, recorded a pronounced curtailment. Over the period under review, the market reached the maximum level at $40.9B in 2012; however, from 2013 to 2024, consumption failed to regain momentum.

Global Platinum Nanoparticles Market was valued at USD 295.61 Million in 2024 and is anticipated to project robust growth in the forecast period with a CAGR of 4.25% to reach USD 379.55 Million in 2030.

The South African platinum group metals market was valued at USD 41.98 million in 2023. It is estimated to reach USD 69.72 million by 2032, growing at a CAGR of 5.8% during the forecast period (2024–2032).
Report Scope:

The Australian platinum group metals market was valued at USD 348.52 million in 2023. It is estimated to reach USD 593.83 million by 2032, growing at a CAGR of 6.1% during the forecast period (2024–2032).
Report Scope:

Palladium rose to 1,428.50 USD/t.oz on December 2, 2025, up 0.53% from the previous day. Over the past month, Palladium's price has fallen 1.11%, but it is still 47.88% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Palladium - values, historical data, forecasts and news - updated on December of 2025.

The Finnish platinum market declined slightly to $12.6B in 2024, reducing by -3.5% against the previous year. Overall, consumption recorded a resilient expansion. Platinum consumption peaked at $25.3B in 2018; however, from 2019 to 2024, consumption failed to regain momentum.

In 2024, after two years of growth, there was significant decline in the Spanish platinum market, when its value decreased by -12.4% to $15B. Over the period under review, consumption showed a abrupt descent. Platinum consumption peaked at $28.8B in 2012; however, from 2013 to 2024, consumption stood at a somewhat lower figure.

The Irish platinum market fell remarkably to $108M in 2024, declining by -45.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, posted prominent growth. As a result, consumption reached the peak level of $6.6B.

In 2024, the Czech platinum market increased by 1% to $4.6B, rising for the third year in a row after three years of decline. In general, consumption, however, showed a perceptible downturn. Over the period under review, the market hit record highs at $7.3B in 2012; however, from 2013 to 2024, consumption failed to regain momentum.

Der globale Markt für Edelmetalle wird voraussichtlich bis 450 ein Volumen von über 2026 Milliarden USD erreichen und von 6 bis 2020 eine durchschnittliche jährliche Wachstumsrate von 2026 % aufweisen. Edelmetalle sind ein metallisches Element, das natürlich, selten und schwer zu finden ist. Aufgrund ihrer Seltenheit haben Edelmetalle einen hohen wirtschaftlichen Wert.

In 2024, the Portuguese platinum market increased by 1.2% to $4.5B, rising for the third year in a row after three years of decline. Over the period under review, consumption, however, saw a perceptible reduction. Over the period under review, the market hit record highs at $7.4B in 2012; however, from 2013 to 2024, consumption stood at a somewhat lower figure.

After two years of growth, the French platinum market decreased by -1.6% to $26.8B in 2024. Overall, consumption, however, showed a perceptible downturn. Platinum consumption peaked at $44.7B in 2012; however, from 2013 to 2024, consumption failed to regain momentum.