Platinum bars 1000 grams pure platinum

Platinum Prices

Platinum prices averaged higher in May relative to April. Platinum prices averaged USD 1,059 per troy ounce in May, which was 1.1% higher than April’s price and was up 10.5% from the same month last year. Meanwhile, on 31 May, platinum closed the day at USD 1,003 per troy ounce, which was down 6.6% from the same day of the previous month.

While average platinum prices increased slightly in May relative to April, this was largely due to weak data in early April; prices actually trended down during May. Supporting prices was strong demand for cars in major developed markets—platinum’s main use is in cars’ catalytic converters. In addition, the expectations of a more dovish Fed and vulnerabilities around the U.S. banking and the commercial real estate sectors likely increased safe-haven demand. In contrast, putting downward pressure on prices was the restart of production at Sibanye-Stillwater’s Montana mine in late April after repair works were completed. The dollar’s strength during May also contributed to cap prices, as the metal became more expensive for holders of other currencies.

This chart displays Platinum (US$/toz) from 2021 to 2023.

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 - 1,181 1,023 998 1,029 959 887 971

Free sample report

Price forecasts and historical data for Platinum.

Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest