Platinum Price OutlookPlatinum prices surged in recent weeks, rising to the highest levels seen in over one year. On 5 August, platinum traded at 1,146 USD per troy ounce. The print was up 7.8% from the same day in July and was 32.0% higher on a year-to-date basis. In addition, the price was up 20.5% from the same day last year. The rapid rise in platinum prices comes against a backdrop of wage negotiations between trade unions and mining companies in South Africa. South Africa accounts for more than half of global production and a five-month strike between the two groups in 2014 led to large supply disruptions. On top of this, strong demand for automobiles in China is fueling prices, as is increased demand from investors for precious metals due to elevated global political uncertainty. That said, ample above-ground stocks continue to limit price gains.
Platinum Price History Data (USD per troy ounce)
Price forecasts and historical data for Energy, Metals and Agricultural Commodities.
Note: London Metal Exchange (LME) Platinum, prices in USD per troy ounce (toz). Prices are average of period (aop).
Platinum Historical Price Chart
Price forecasts and historical data for Energy, Metals and Agricultural Commodities