Platinum futures traded below $2,100 an ounce, hovering more than two-week lows, pressured by a broader retreat across precious metals. The decline came as surging energy prices fueled inflation concerns and strengthened the US dollar, reducing the appeal of non-yielding safe-haven metals. Oil surged above $100 per barrel for the first time since 2022 as the US-Israeli war with Iran entered its second week, with attacks on energy infrastructure and shipping disruptions through the Strait of Hormuz tightening global supply. The chokepoint typically handles about a fifth of the world’s oil trade, and recent tanker disruptions have prompted several Middle Eastern producers to curb output. Meanwhile, the platinum market remains structurally tight, with limited mine supply growth and expectations of another global deficit this year, while steady demand from the automotive sector for catalytic converters continues to support longer-term consumption.

Platinum rose to 2,178.40 USD/t.oz on March 9, 2026, up 1.71% from the previous day. Over the past month, Platinum's price has risen 3.71%, and is up 127.96% 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 March 9 of 2026.

Platinum rose to 2,178.40 USD/t.oz on March 9, 2026, up 1.71% from the previous day. Over the past month, Platinum's price has risen 3.71%, and is up 127.96% 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 2166.06 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 2549.05 in 12 months time.



Price Day Month Year Date
Gold 5,120.27 -38.62 -0.75% 1.92% 77.51% Mar/09
Silver 85.61 1.274 1.51% 5.98% 167.43% Mar/09
Copper 5.78 0.0206 0.36% -2.30% 25.17% Mar/09
Steel 3,118.00 19.00 0.61% 2.16% -3.17% Mar/09
Lithium 154,750.00 -500 -0.32% 13.79% 106.20% Mar/09
Platinum 2,179.70 38.00 1.77% 3.77% 128.10% Mar/09
Iron Ore 101.91 1.02 1.01% 1.27% 0.61% Mar/06


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. Trading Economics does not verify any data and disclaims any obligation to do so.
Actual Previous Highest Lowest Dates Unit Frequency
2178.40 2141.70 2923.70 97.70 1968 - 2026 USD/t oz. Daily

News Stream
Platinum Pressured Near 2-Week Lows
Platinum futures traded below $2,100 an ounce, hovering more than two-week lows, pressured by a broader retreat across precious metals. The decline came as surging energy prices fueled inflation concerns and strengthened the US dollar, reducing the appeal of non-yielding safe-haven metals. Oil surged above $100 per barrel for the first time since 2022 as the US-Israeli war with Iran entered its second week, with attacks on energy infrastructure and shipping disruptions through the Strait of Hormuz tightening global supply. The chokepoint typically handles about a fifth of the world’s oil trade, and recent tanker disruptions have prompted several Middle Eastern producers to curb output. Meanwhile, the platinum market remains structurally tight, with limited mine supply growth and expectations of another global deficit this year, while steady demand from the automotive sector for catalytic converters continues to support longer-term consumption.
2026-03-09
Platinum is up by 5.06%
Platinum increased 5.06% to 2180.6 USD/t.oz
2026-03-04
Platinum Eases from 1-Month Highs
Platinum futures fell to around $2,100 an ounce, easing from four-week highs, tracking a broader retreat across precious metals. The decline came as the dollar strengthened, reclaiming its traditional safe-haven role amid escalating Middle East tensions. The US military is expected to intensify strikes on Iran, while a top Iranian official warned that vessels attempting to transit the Strait of Hormuz could be targeted, with tanker traffic effectively stalled amid heightened security risks. The escalation drove oil prices sharply higher, intensifying concerns over inflationary pressures. This triggered a sell-off in Treasuries and reduced bets of further Federal Reserve rate cuts. Meanwhile, platinum’s heavy reliance on industrial demand, particularly automotive catalytic converters, makes it more sensitive to slower global manufacturing and weak auto demand. Still, the market remains structurally tight, with ongoing supply constraints from major producers continuing to support prices.
2026-03-03