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Platinum rose to 1,454.50 USD/t.oz on July 11, 2025, up 3.93% from the previous day. Over the past month, Platinum's price has risen 13.41%, and is up 45.42% 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 July of 2025.

Interactive chart of historical daily platinum prices back to 1985. The price shown is in U.S. Dollars per troy ounce.

Platinum futures contracts to be settled in January 2024 were trading on U.S. markets at 1,089 U.S. dollars per troy ounce on June 20, 2024. This is slightly above the price of 1,042 U.S. dollars per troy ounce for contracts to be settled in May 2024, indicating that platinum traders expect the price of platinum to increase a little over the next year. Platinum futures are contracts that effectively lock in a price for an amount of platinum to be purchased at a time in the future, which can then be traded on markets. Futures markets therefore provide an indicator of how investors think a commodities market will develop in the future.

In February 2025, the average platinum import price amounted to $31.9M per ton, picking up by 2.1% against the previous month.

Graph and download economic data for Producer Price Index by Commodity: Miscellaneous Products: Jewelry, Gold and Platinum (WPU15940222) from Dec 2011 to May 2025 about platinum, jewelry, gold, miscellaneous, commodities, PPI, inflation, price index, indexes, price, and USA.

As of May 21, 2025, the average platinum price decreased to around 971 U.S. dollars per troy ounce. In 2021, platinum was sold at approximately, 1089 U.S. dollars per troy ounce, a year-on-year rise of close to 22 percent. Platinum is a precious metal commodity which is used in jewelry and autocatalyst manufacturing.

In 2023, the highest price among the platinum group metals (PGM) in the United States was rhodium at ***** U.S. dollars per ounce. Ruthenium had the lowest PGM price in the U.S. at that time, at ****** U.S. dollars per troy ounce.

South Africa Platinum Price: US Dollar data was reported at 799.270 USD in Aug 2018. This records a decrease from the previous number of 833.530 USD for Jul 2018. South Africa Platinum Price: US Dollar data is updated monthly, averaging 865.075 USD from Sep 1992 (Median) to Aug 2018, with 312 observations. The data reached an all-time high of 2,059.600 USD in May 2008 and a record low of 342.390 USD in Oct 1998. South Africa Platinum Price: US Dollar data remains active status in CEIC and is reported by South African Reserve Bank. The data is categorized under Global Database’s South Africa – Table ZA.P002: Platinum Price.

This statistic depicts the average monthly prices for platinum worldwide from November 2014 through January 2025. In January 2025, the average monthly price for platinum worldwide stood at ****** nominal U.S. dollars per troy ounce.

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Platinum Market Size 2025-2029

The platinum market size is forecast to increase by USD 1.88 billion at a CAGR of 4.5% between 2024 and 2029.

The market witnesses significant growth, driven primarily by the increasing demand for platinum in various industries, with the automobile sector being a key contributor. The automobile industry's focus on reducing emissions and improving fuel efficiency has led to a wave in the adoption of platinum in exhaust systems. However, the market's growth is tempered by the energy-intensive processing of platinum, which increases production costs. Furthermore, regulatory hurdles impact adoption, as stringent environmental regulations limit the use of platinum in certain applications. In the automotive sector, the rising usage of platinum in catalytic converters and other automotive parts and components is driving market growth.
Supply chain inconsistencies also pose a challenge, as the majority of the world's platinum supply comes from South Africa, which is prone to political instability and labor disputes. Companies seeking to capitalize on market opportunities must focus on optimizing production processes and exploring alternative sources of platinum to mitigate these challenges and maintain a competitive edge.

What will be the Size of the Platinum Market during the forecast period?

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Platinum, a rare precious metal in the platinum group, plays a crucial role in various industries, including jewelry and electronics. The jewelry segment accounts for approximately 25% of global platinum demand, while element's application in electronic equipment and catalytic converters drives significant growth. Spanish explorers discovered platinum over five centuries ago, but its modern uses are more diverse. Catalytic converters, a major application, consume around 40% of the world's platinum supply. Regulatory authorities' stricter emission regulations have boosted demand for platinum in this sector. The automotive industry's shift towards electric vehicles may impact the demand for platinum in catalytic converters. The market is a significant component of the market, which also includes palladium, rhodium, and other rare precious metals.
Meanwhile, the chemical sector and fuel cells are emerging applications, with millions of ounces of platinum used in catalysts. Joint ventures and recycling facilities are essential in the circular economy, as platinum can be recovered and reused. The market faces production halts due to unforeseen circumstances, affecting product prices. Platinum's price volatility is influenced by supply and demand dynamics, as well as source insights from South Africa, the world's largest producer. Silver and gold, platinum's sister precious metals, also impact the market, with their prices influencing platinum's price trend. The platinum group metals' application insights extend to the exhaust systems of gasoline engines and the chemical sector's catalysts.
In the face of regulatory pressures and evolving market trends, the market continues to adapt, offering opportunities for businesses to explore.

How is this Platinum Industry segmented?

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

End-user

  Automotive
  Jewelry
  Industrial
  Investment


Source

  Primary
  Secondary


Form Factor

  Platinum bars
  Platinum coins


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    UK


  APAC

    Australia
    China
    India
    Japan
    South Korea


  Rest of World (ROW)

By End-user Insights

The automotive segment is estimated to witness significant growth during the forecast period. Platinum, a precious metal, plays a pivotal role in various industries, most notably in the automotive sector. In this context, the hydrogen fuel segment is a significant consumer, as platinum is a key component in hydrogen fuel cells. Meanwhile, in the automotive exhaust segment, platinum is employed in catalytic converters to minimize pollutant emissions, including carbon dioxide and harmful nitrogen oxides. The chemical sector utilizes platinum in catalysts for various processes, while the semiconductor industry relies on it for producing oxygen sensors. In the jewelry segment, platinum is valued for its white, lustrous appearance and durability. The construction sector employs platinum in catalysts for improving fuel efficiency and reducing exhaust emissions in diesel engines. The market is driven by strong demand from various sectors, including the automotive industry and the chemical sector. In recent years, the automotive sector has witnessed a rise in demand due to the increasing adoption of electric vehicles, hybrid vehicles,

Graph and download economic data for Import Price Index (Harmonized System): Silver (Including Silver Plated with Gold or Platinum), Unwrought or in Semimanufactured Forms, or in Powder Form (IP7106) from Dec 2021 to May 2025 about silver, harmonized, imports, price index, indexes, price, and USA.

United States - Producer Price Index by Commodity: Miscellaneous Products: Jewelry, Gold and Platinum was 142.49700 Index Dec 2011=100 in May of 2025, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Commodity: Miscellaneous Products: Jewelry, Gold and Platinum reached a record high of 142.87200 in April of 2025 and a record low of 90.40000 in April of 2014. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Commodity: Miscellaneous Products: Jewelry, Gold and Platinum - last updated from the United States Federal Reserve on July of 2025.

During the second quarter (Q2) of 2025, the London Metal Exchange (LME) platinum price amounted to 1,070 U.S. dollars per metric ton worldwide. Between Q4 2022 and Q2 2025, the highest price of platinum was recorded in Q2 2025.

United States IP: PS: Silver incl Silver Plated with Gold or Platinum data was reported at 137.300 Dec2021=100 in Mar 2025. This records a decrease from the previous number of 137.500 Dec2021=100 for Feb 2025. United States IP: PS: Silver incl Silver Plated with Gold or Platinum data is updated monthly, averaging 105.150 Dec2021=100 from Dec 2021 (Median) to Mar 2025, with 40 observations. The data reached an all-time high of 141.200 Dec2021=100 in Nov 2024 and a record low of 81.000 Dec2021=100 in Sep 2022. United States IP: PS: Silver incl Silver Plated with Gold or Platinum data remains active status in CEIC and is reported by U.S. Bureau of Labor Statistics. The data is categorized under Global Database’s United States – Table US.JA237: Import Price Index: by Harmonized Index.

Discover the latest market trends and forecasts for the rising demand of platinum in the United States. Anticipated growth in both volume and value is projected, with a forecasted increase in market volume to 3.6K tons and market value to $134.2B by 2035.

Graph and download economic data for Import Price Index (Harmonized System): Platinum, Unwrought or in Semimanufactured Forms, or in Powder Form (IP7110) from Dec 2019 to May 2025 about platinum, harmonized, imports, price index, indexes, price, and USA.

United States - Producer Price Index by Industry: Jewelry and Silverware Manufacturing: Jewelry, Gold and Platinum was 311.67000 Index Dec 1985=100 in May of 2025, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Industry: Jewelry and Silverware Manufacturing: Jewelry, Gold and Platinum reached a record high of 312.48900 in April of 2025 and a record low of 58.70000 in December of 1978. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Industry: Jewelry and Silverware Manufacturing: Jewelry, Gold and Platinum - last updated from the United States Federal Reserve on July of 2025.

United States EP: PS: Gold incl Gold Plated with Platinum data was reported at 113.300 Dec2001=100 in Mar 2025. This records an increase from the previous number of 110.600 Dec2001=100 for Feb 2025. United States EP: PS: Gold incl Gold Plated with Platinum data is updated monthly, averaging 56.800 Dec2001=100 from Dec 2001 (Median) to Mar 2025, with 280 observations. The data reached an all-time high of 201.500 Dec2001=100 in Apr 2006 and a record low of 22.200 Dec2001=100 in Nov 2006. United States EP: PS: Gold incl Gold Plated with Platinum data remains active status in CEIC and is reported by U.S. Bureau of Labor Statistics. The data is categorized under Global Database’s United States – Table US.JA116: Export Price Index: by Harmonized Index.

Graph and download economic data for Export Price Index (Harmonized System): Gold (Including Gold Plated with Platinum) Unwrought or in Semimanufactured Forms, or in Powder Form (ID7108) from Dec 2001 to May 2025 about platinum, gold, harmonized, exports, price index, indexes, price, and USA.