Platinum futures approached $880 per tonne, rebounding from a 22-month low of $844 hit on July 14th, tracking a pause in dollar rally after Fed Chair Jerome Powell highlighted possibly slowing the pace of interest rate hikes amid contraction in the US economy. Cheap dollars encourage foreign investors to buy the dollar-denominated commodity. On the supply side, shipment disruptions from Russia are expected to keep the metal supplies lower as the war rages in Ukraine and the West continues to impose trade sanctions on Russia. Earlier in June, Britain sanctioned Vladimir Potanin, the chief executive and principal shareholder of the Russian mining giant, Nornickel. Nornickel is the third largest producer of platinum, with a global output share of 10%. .

Historically, Platinum reached an all time high of 2290 in March of 2008. Platinum - data, forecasts, historical chart - was last updated on August of 2022.

Platinum is expected to trade at 910.19 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 847.75 in 12 months time.

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Price Day Month Year
Gold 1,790.07 -2.06 -0.11% 3.72% 2.15%
Silver 20.57 -0.003 -0.01% 8.85% -11.19%
Copper 3.64 0.0630 1.75% 10.65% -16.39%
Steel 4,093.00 -12.00 -0.29% 1.56% -23.54%
Iron Ore 111.50 0 0% -0.89% -33.03%
Lithium 476,500.00 0 0% 0.21% 391.24%
Platinum 943.38 1.74 0.19% 11.53% -7.35%

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
944.09 941.63 2290.00 97.70 1968 - 2022 USD/t oz. Daily