Platinum futures slipped to around $1,900 per ounce, hitting a four-week low, as uncertainty over diplomatic progress in the Middle East kept inflation risks and expectations of prolonged high interest rates in focus. Key sticking points remain, including Iran’s demand to retain control over the Strait of Hormuz and its nuclear program, while the US continues to reject sanctions relief and what it views as an unfavorable agreement. Even if negotiations progress, elevated energy prices are likely to keep inflation under pressure and support the case for interest rates remaining higher for longer. Meanwhile, the platinum market remains structurally tight, with the World Platinum Investment Council projecting a fourth consecutive annual supply deficit in 2026. Automotive demand also remains broadly resilient, supported by hybrid vehicle growth and tighter emissions standards, while jewelry consumption weakens under higher prices, particularly in China.

Platinum fell to 1,922.90 USD/t.oz on May 29, 2026, down 0.23% from the previous day. Over the past month, Platinum's price has fallen 3.59%, but it is still 83.47% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Platinum reached an all time high of 2923.70 in January of 2026. Platinum - data, forecasts, historical chart - was last updated on May 30 of 2026.

Platinum fell to 1,922.90 USD/t.oz on May 29, 2026, down 0.23% from the previous day. Over the past month, Platinum's price has fallen 3.59%, but it is still 83.47% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Platinum is expected to trade at 1969.32 USD/t oz. by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 2316.52 in 12 months time.



Price Day Month Year Date
Gold 4,541.41 45.91 1.02% -1.76% 38.07% May/29
Silver 75.24 -0.345 -0.46% 2.19% 128.08% May/29
Copper 6.37 -0.0310 -0.48% 7.41% 36.17% May/29
Steel 3,180.00 15.00 0.47% -0.47% 5.40% May/29
Lithium 177,500.00 2000 1.14% 0.28% 192.42% May/29
Platinum 1,922.90 -4.40 -0.23% -3.59% 83.47% May/29
Iron Ore 108.82 -0.22 -0.20% 1.53% 9.79% May/29


Platinum
Platinum is mostly traded on the New York Mercantile Exchange, the Tokyo Commodity Exchange and the London Bullion Market. Platinum futures contract trades in units of 50 troy ounces. Platinum is among the world's scarcest metals and is used primarily in the production of automotive catalytic converters, in petroleum refineries and in the chemical and electrical industry. South Africa accounts for 80% of production followed by Russia and North America. Platinum prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. The data is supplied by a third party and, while efforts are made to ensure its accuracy, Trading Economics does not verify the data and makes no representations or warranties regarding its accuracy..
Actual Previous Highest Lowest Dates Unit Frequency
1922.90 1927.30 2923.70 97.70 1968 - 2026 USD/t oz. Daily

News Stream
Platinum Hits 1-Month Low
Platinum futures slipped to around $1,900 per ounce, hitting a four-week low, as uncertainty over diplomatic progress in the Middle East kept inflation risks and expectations of prolonged high interest rates in focus. Key sticking points remain, including Iran’s demand to retain control over the Strait of Hormuz and its nuclear program, while the US continues to reject sanctions relief and what it views as an unfavorable agreement. Even if negotiations progress, elevated energy prices are likely to keep inflation under pressure and support the case for interest rates remaining higher for longer. Meanwhile, the platinum market remains structurally tight, with the World Platinum Investment Council projecting a fourth consecutive annual supply deficit in 2026. Automotive demand also remains broadly resilient, supported by hybrid vehicle growth and tighter emissions standards, while jewelry consumption weakens under higher prices, particularly in China.
2026-05-28
Platinum Hits 4-week Low
Platinum decreased to 1914.00 USD/t.oz, the lowest since April 2026. Over the past 4 weeks, Platinum lost 2.18%, and in the last 12 months, it increased 79.71%.
2026-05-27
Platinum Pressured Near 3-Week Lows
Platinum futures traded around $1,950 an ounce, hovering near three-week lows as heightened uncertainty in the Middle East kept inflation risks elevated. Even as negotiations proceeded, US forces conducted strikes in southern Iran in what it described as defensive actions, dimming hopes of a potential peace deal. This sent oil prices higher, fueling inflation concerns and reinforced expectations that central banks could maintain tighter monetary policy for longer. Meanwhile, platinum draws support from its favorable supply-demand outlook. Strong demand from China, particularly following the launch of a new domestic platinum futures contract, has reinforced investor interest in the metal. The market also remains structurally tight, with output in major suppliers South Africa and Russia constrained by aging mines, high operating costs, and sanctions-related challenges. Expectations of solid industrial demand from the automotive sector, further added support.
2026-05-26