Platinum Price OutlookPlatinum prices are largely flat month-on-month, although this masks some volatility in recent weeks, with prices rising towards the end of June before dipping in early July. On 5 July, platinum traded at USD 825 per troy ounce, which was down 0.2% from the same day last month. The price was 3.9% higher on a year-to-date basis but was down 2.4% from the same day in 2018. In late June, prices received a boost from the weaker USD, less encouraging economic data from major economies, and elevated U.S.-China trade tensions, which bolstered safe-haven demand. Moreover, investment demand also likely played a role, with investors wagering on more favorable market conditions in the medium-term, and supply disruptions in key producer South Africa later this year. Wage negotiations at South African platinum mines begin in early July, and with platinum producers currently making bumper profits, unions are scenting blood; the Association of Mineworkers and Construction Union recently asked for a near 50% pay rise for instance. This hints at tricky talks, which could potentially lead to strike action. However, the market lost steam in early July following an encouraging U.S. jobs report which suggests the U.S. economy is in good health, leaving platinum prices virtually unchanged on a monthly basis.
Platinum Price History Data (USD per troy ounce, aop)
Price forecasts and historical data for Energy, Metals and Agricultural Commodities.
Platinum Historical Price Chart
Price forecasts and historical data for Energy, Metals and Agricultural Commodities
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