Platinum Price OutlookPlatinum prices decreased over the past month, likely due to stronger supply and softer demand. On 9 October, platinum traded at USD 892 per troy ounce, which was down 2.6% from the same day last month. Moreover, the price was 8.1% lower on a year-to-date basis and was up 1.0% from the same day in 2019. The recent fall in platinum prices was likely in part because of a recovery in supply from South Africa—the world’s largest producer of platinum—after smelter outages and Covid-19 restrictions had limited output earlier in the year. Moreover, subdued vehicle demand due to the economic downturn and the EU’s shift away from diesel vehicles—which use more of the metal in catalytic converters—likely further dampened prices. In addition, the resurgence of the U.S. dollar made purchasing platinum more expensive for holders of other currencies.
Platinum Price History Data (USD per troy ounce, aop)
Price forecasts and historical data for Energy, Metals and Agricultural Commodities.
Platinum Historical Price Chart
Price forecasts and historical data for Energy, Metals and Agricultural Commodities
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