Platinum ingots

Platinum Price Outlook

Platinum prices increased over the past month, in line with other precious metals, likely tied to positive developments in the automotive sector and heightened inflationary pressures. On 14 January, platinum traded at USD 979 per troy ounce, which was up 7.5% from the same day last month. Meanwhile, the price was 2.1% higher on a year-to-date basis but was down 11.6% from the same day in 2021. The rise in platinum prices in recent weeks was likely the result of the automotive sector expanding in December for the first time since July 2021. The IHS global sector PMI showed that the automobile and auto parts sector expanded on the back of higher output and new orders in December, which should have supported the demand outlook for platinum and consequently pushed prices higher. Moreover, Japanese auto output data revealed a surge in car production in November, while car production in China was also robust in December. Meanwhile, elevated inflationary pressures in key developed economies in recent weeks should have also supported demand for platinum for its attractiveness as a hedge against inflation.

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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