Platinum prices averaged USD 1,622 per troy ounce in October, down 9.2% from September. On 30 October, the commodity traded at USD 1,427 per troy ounce, down 16.8% from 30 September.
Average platinum prices fell in October after holding broadly stable in September. A stronger USD, expectations of higher U.S. interest rates and concerns over slowing global growth, which weakened investment sentiment and expectations for industrial demand, weighed on the metal’s value. Platinum also faced pressure from concerns over softer automotive demand amid higher EV adoption and investment outflows amid equity-market volatility, partly linked to concerns over AI-related investment spending.
This chart displays Platinum (US$/toz) from 2024 to 2026.
Platinum LME (prices in US$/toz, aop)
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | Q3 2026 | Q4 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Platinum LME | - | - | - | 966 | 968 | 1,070 | 1,386 | 1,699 | 2,205 | 1,914 | 1,726 | - |