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 |
Sample Report
Price forecasts and historical data for Energy, Metals and Agricultural Commodities.
Platinum Historical Price Chart
Sample Report
Price forecasts and historical data for Energy, Metals and Agricultural Commodities
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
© Copyright: 2022. | Platinum Price | Privacy Policy | Cookies Policy | Terms & Conditions | Sitemap | RSS feed
