Platinum prices averaged USD 1,618 per troy ounce in October, up 13.1% from September. On 31 October, the commodity traded at USD 1,589 per troy ounce, up 1.1% from 30 September.
Platinum prices rose to the highest levels in over a decade in October. Still, prices were volatile throughout the month. The metal’s value initially rose amid market tightness, before falling in the latter part of the month on easing investor demand for safe-haven assets following news of moderating China-U.S. tensions. In other news, China announced it would start collecting VAT on sales of imported platinum from 1 November, boding poorly for Chinese imports going forward.
This chart displays Platinum (US$/toz) from 2023 to 2025.
Platinum LME (prices in US$/toz, aop)
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Platinum LME | - | - | - | 914 | 911 | 980 | 964 | 966 | 968 | 1,070 | 1,386 | - |