Platinum prices averaged USD 909 per troy ounce in March, up 1.6% from February. On 29 March, the commodity traded at USD 907 per troy ounce, up 2.3% from 29 February.
In March, platinum prices rose on average from the prior month as signs of recovery in the Chinese economy boosted demand for the metal; China is one of the leading importers of platinum. A rebound in global vehicle demand from the year’s soft start and higher U.S. economic growth projections added further upward pressure to prices. Moreover, a weaker greenback supported investment demand by making the metal less expensive for holders of other currencies.
This chart displays Platinum (US$/toz) from 2022 to 2024.
Platinum LME (prices in US$/toz, aop)
| Q1 2021 | Q2 2021 | Q3 2021 | Q4 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | |
|---|---|---|---|---|---|---|---|---|
| Platinum LME | - | - | - | - | - | 959 | 887 | 971 |