Platinum ingots

Platinum Price Outlook

Platinum prices rose over the past month, in line with other precious metals, likely due to some short-covering amid a weaker USD. On 5 November, platinum traded at USD 1,028 per troy ounce, which was up 7.5% from the same day last month. Meanwhile, the price was 3.7% lower on a year-to-date basis but was up 14.6% from the same day in 2020. The rise in platinum prices was likely the result of some investors closing out their short positions in recent weeks as precious metals more broadly received a notable boost. Platinum prices have gradually fallen from May’s multi-year high in the second half of the year, as global car manufacturers have struggled to scale up production due to the semiconductor shortage, which has dented appetite for the metal in turn. Consequently, investors likely looked to close out some of their short positions over the past month. Nevertheless, prices remained relatively subdued, with the IHS Markit global sector PMI for October pointing to the third consecutive deterioration in output in the automobile and auto parts sector relative to the previous month.

Platinum Price History Data (USD per troy ounce, aop)

2015  2016  2017  2018  2019  
Platinum 1051.85  987.37  948.13  879.15  863.77  

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Price forecasts and historical data for Energy, Metals and Agricultural Commodities.

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Platinum Historical Price Chart


Platinum historical price chart
Note: Platinum prices in USD per troy ounce (toz). Daily prices.

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Price forecasts and historical data for Energy, Metals and Agricultural Commodities

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