Platinum futures plunged to a 19-month low of around $900 per tonne, sliding from a 1-week high of $920 hit in the previous session as prospects of weaker demand outweighed fears of tight global supplies. As major central banks are determined to raise interest rates to tame inflation despite a possible recession, a slowdown in global economic activity, including vehicle production, is inevitable. Platinum is used as an auto catalyst to reduce pollution in automobiles and has become a cheap substitute to palladium. Platinum futures rose to a 1-week high of $ 920 on June 29th, amid fears of lower global supplies after Britain sanctioned Vladimir Potanin, the chief executive and principal shareholder of 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 July of 2022.

Platinum is expected to trade at 865.48 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 825.46 in 12 months time.

Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Please Paste this Code in your Website

Price Day Month Year
Gold 1,810.18 3.29 0.18% -3.10% 1.31%
Silver 19.87 -0.377 -1.86% -10.82% -24.91%
Copper 3.62 -0.0955 -2.57% -20.51% -15.48%
Steel 4,500.00 -1.00 -0.02% 0.78% -8.31%
Iron Ore 118.00 -4.50 -3.67% -17.48% -45.75%
Lithium 475,500.00 0 0% 1.49% 434.27%
Platinum 889.00 -4.85 -0.54% -13.06% -18.44%

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
889.00 893.85 2290.00 97.70 1968 - 2022 USD/t oz. Daily