Platinum bars 1000 grams pure platinum

Platinum Prices

Platinum prices were lower on average in September relative to August. Platinum prices averaged USD 923 per troy ounce in September, 0.3% lower than August’s price but up 5.0% year on year. Meanwhile, on 29 September, platinum closed the day at USD 923 per troy ounce, down 5.8% month on month.

In September, platinum prices eased due to expectations of higher-for-longer global interest rates. The expectation that the Fed would maintain higher interest rates for an extended period incentivized investors to shift away from platinum. Stronger Treasury yields also increased the opportunity cost of holding the metal, while the strength of the greenback raised its cost for holders of other currencies, thus limiting platinum demand. Meanwhile, there was some upward pressure on prices due to increased power cuts in key producer South Africa in September.

This chart displays Platinum (US$/toz) from 2022 to 2023.

Platinum LME (prices in US$/toz, aop)

Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022
Platinum LME - - - - 1,029 959 887 971

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Price forecasts and historical data for Platinum.

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