Platinum futures traded around $1,600 an ounce, near late-November lows, pressured by weakness across precious metals amid persistent hostilities in the Middle East. The conflict kept inflation risks in focus and reinforced expectations that interest rates could stay higher for longer, weighing on non-yielding assets such as platinum. Investors now await the Federal Reserve's policy decision, where rates are widely expected to remain unchanged. Still, markets see about a one-third chance of a rate hike this week and roughly an 80% chance of another increase in September. The platinum market was also weighed down by expectations for softer industrial and automotive demand despite the tight supply outlook. The ongoing shift toward electric vehicles, which do not require autocatalysts, has clouded demand prospects even as the platinum market is forecast to post a fourth straight annual supply deficit due to constrained mine supply and declining above-ground inventories.

Platinum fell to 1,622.50 USD/t.oz on July 29, 2026, down 0.05% from the previous day. Over the past month, Platinum's price has risen 3.62%, and is up 24.01% compared to the same time last year, 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 July 29 of 2026.

Platinum fell to 1,622.50 USD/t.oz on July 29, 2026, down 0.05% from the previous day. Over the past month, Platinum's price has risen 3.62%, and is up 24.01% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Platinum is expected to trade at 1653.50 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 1912.04 in 12 months time.



Price Day Month Year Date
Gold 4,066.00 37.67 0.94% 1.45% 24.17% Jul/29
Silver 57.62 0.520 0.91% -1.52% 55.18% Jul/29
Copper 6.32 -0.0105 -0.17% 2.00% 36.92% Jul/29
Steel 3,025.00 -24.00 -0.79% -0.79% -6.29% Jul/29
Lithium 146,000.00 500 0.34% -6.71% 100.14% Jul/29
Platinum 1,622.50 -0.80 -0.05% 3.62% 24.01% Jul/29
Iron Ore 98.27 -0.03 -0.03% -1.93% -0.81% Jul/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
1622.50 1623.30 2923.70 97.70 1968 - 2026 USD/t oz. Daily

News Stream
Platinum Trades Near Multi-Month Lows
Platinum futures traded around $1,600 an ounce, near late-November lows, pressured by weakness across precious metals amid persistent hostilities in the Middle East. The conflict kept inflation risks in focus and reinforced expectations that interest rates could stay higher for longer, weighing on non-yielding assets such as platinum. Investors now await the Federal Reserve's policy decision, where rates are widely expected to remain unchanged. Still, markets see about a one-third chance of a rate hike this week and roughly an 80% chance of another increase in September. The platinum market was also weighed down by expectations for softer industrial and automotive demand despite the tight supply outlook. The ongoing shift toward electric vehicles, which do not require autocatalysts, has clouded demand prospects even as the platinum market is forecast to post a fourth straight annual supply deficit due to constrained mine supply and declining above-ground inventories.
2026-07-29
Platinum Futures Hold Firm
Platinum futures held around $1,620 an ounce, supported by strength across the precious metals complex as oil prices dropped following a pause in the US-Iran conflict. The US suspended its nearly two-week campaign of strikes against Iran beginning late Friday, while Tehran said it had ended its retaliatory strikes and held talks with Oman regarding the Strait of Hormuz. Still, platinum prices remained near late-November lows due to prospects of higher interest rates and persistent inflation. The Federal Reserve is widely expected to leave interest rates unchanged at its policy meeting this week, although some believe the central bank could move as early as this meeting. Prices were also weighed down by expectations for softer industrial and automotive demand despite the tight supply outlook. The ongoing shift toward electric vehicles, which do not require autocatalysts, has clouded demand prospects even as the platinum market is forecast to post a fourth straight annual supply deficit.
2026-07-27
Platinum Retreats From 2-Week High
Platinum futures fell below $1,650 an ounce, pulling back from a two-week high reached on July 22 and tracking losses across the precious metals complex as soaring oil prices reinforced expectations for tighter US monetary policy. Markets boosted bets on a Federal Reserve rate hike in September to above 78% after oil prices topped $100 per barrel, as tanker attacks in the Red Sea and ongoing fighting in the Middle East stoked inflation fears. Fresh US tariffs on goods from 60 trading partners added to the uncertain market backdrop. Meanwhile, underlying platinum fundamentals remain supportive, with the market forecast to post a fourth consecutive annual deficit in 2026 as constrained mine supply and declining above-ground inventories outweighed stronger recycling growth. China's industrial policies supporting AI, electric vehicles, and clean energy, together with the launch of the first platinum investment bar series, are also expected to support long-term consumption.
2026-07-24