Platinum Prices

Platinum prices averaged USD 1,430 per troy ounce in September, up 7.2% from August. On 30 September, the commodity traded at USD 1,571 per troy ounce, up 16.6% from 29 August.

Following August’s dip, platinum prices rose at one of the fastest paces this year in September. While prices remained largely stable in the first half of the month, the metal’s value rose markedly—in line with silver and gold—following the Fed’s interest rate cut on 17 September, which boosted investor demand. Moreover, platinum benefited from stronger safe-haven demand amid widening fiscal deficits and high inflation in the U.S.