Platinum prices averaged USD 1,391 per troy ounce in July, up 12.2% from June. On 31 July, the commodity traded at USD 1,306 per troy ounce, down 3.3% from 30 June.
Platinum prices continued to rise at a double-digit rate in July, hitting the highest levels since 2014. The price rally was due to elevated uncertainty ahead of U.S. “reciprocal” tariffs from 1 August, which boosted safe-haven demand. Moreover, the gold-platinum price ratio remained at all-time highs, leading jewelers to turn to the cheaper metal. Moreover, a relatively weak USD boosted demand further.
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 | - | - | 931 | 914 | 911 | 980 | 964 | 966 | 968 | 1,070 | - | - |