Platinum futures retreated below $900 per tonne, the lowest in 20 months and down more than 20% from its 8-month high of $1153 hit in March, as prospects of lower demand outweighed fears of lower supplies. As major central banks around the world are raising interest rates to fight inflation, fears of economic slowdown and demand destruction loom large. At the same time, production from South Africa, the top producer of the metal, has fallen as surging production costs have made mining expensive in the country. On top this, palladium exports from Russia, one of the other leading shippers, have been disrupted as the West continues to impose trade restrictions on Moscow, in retaliation to Russia’s invasion of Ukraine since February. .

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

Platinum is expected to trade at 886.26 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.

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Platinum



Price Day Month Year
Gold 1,822.63 -3.55 -0.19% -1.81% 2.50%
Silver 21.15 0.040 0.19% -3.63% -18.95%
Copper 3.75 0.0190 0.51% -13.51% -12.34%
Steel 4,350.00 49.00 1.14% -7.92% -11.39%
Iron Ore 116.50 -0.50 -0.43% -10.38% -47.05%
Lithium 477,500.00 0 0% 1.92% 436.52%
Platinum 908.03 0.53 0.06% -5.32% -16.72%


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
908.00 907.50 2290.00 97.70 1968 - 2022 USD/t oz. Daily