Live Platinum Price Chart
The interactive chart below shows the platinum spot price (XPT/USD) in real time. Use the timeframe buttons to view platinum price movements from intraday trading to multi-year trends.
Latest Platinum News & Analysis
Stay informed with our latest coverage of the platinum market, price movements, supply dynamics, and expert analysis.
How to Invest in Platinum
Investors have several options for gaining exposure to platinum prices, each with different characteristics, costs, and risk profiles.
Physical Platinum
Physical platinum bullion — bars and coins — offers direct ownership of the metal. Platinum carries higher premiums over spot than gold due to its smaller market size and more complex refining process. Storage and insurance are required.
Platinum Coins
American Platinum Eagles, Canadian Platinum Maple Leafs, and Australian Platypus — government-minted coins with guaranteed purity (99.95%+).
Platinum Bars
From established refiners like PAMP Suisse, Valcambi, and Heraeus. Available from 1 gram to 10 oz formats, with LBMA-accredited options.
Platinum ETFs
Platinum exchange-traded funds provide convenient exposure to the platinum price without physical storage concerns. These funds hold real platinum bullion and trade like stocks:
Aberdeen Physical Platinum Shares ETF
The largest platinum ETF by assets. Holds physical platinum bullion in London vaults. Expense ratio: 0.60%.
GraniteShares Platinum Trust
Lower-cost alternative to PPLT. Physically backed with platinum stored in London. Expense ratio: 0.50%.
WisdomTree Physical Platinum
European-listed ETC backed by physical platinum. Popular among UK and EU investors. Expense ratio: 0.49%.
SPDR Gold MiniShares (GLDM)
While gold-focused, often paired with platinum in precious metals allocation strategies for portfolio diversification.
Platinum Futures
Platinum futures trade on NYMEX (CME Group) with standard contracts of 50 troy ounces. Futures offer leverage but require understanding of contract specifications, margin requirements, and rollover procedures. Open interest in platinum futures is more than ten times smaller than gold, which can result in greater price volatility during periods of heavy trading activity.
Platinum Mining Stocks
Platinum miners offer leveraged exposure to the platinum price. Most are also significant producers of palladium and rhodium, providing diversified platinum group metals (PGM) exposure:
Anglo American Platinum
The world’s largest primary platinum producer, accounting for roughly 35% of global mined output. South Africa-based.
Impala Platinum
Second-largest PGM producer globally. Operations in South Africa, Zimbabwe, and Canada.
Sibanye Stillwater
Diversified miner with PGM operations in South Africa and the US (Montana). Also produces gold.
Northam Platinum
Mid-cap PGM producer focused on South Africa’s Bushveld Complex, one of the world’s richest platinum deposits.
Historical Platinum Prices
Platinum has experienced dramatic price swings driven by industrial demand cycles, supply disruptions from South Africa, and shifting investor sentiment. After trading below $1,000 for much of 2018-2024, the metal staged a historic breakout in 2025.
Platinum Price History Chart
Key Price Milestones
| Date | Event | Price |
|---|---|---|
| January 2026 | New all-time high | $2,920 |
| December 2025 | Surpasses 2008 record ($2,309) | $2,422 |
| October 2025 | Breaks $2,000 for the first time since 2008 | $2,050+ |
| June 2025 | Breakout above multi-year resistance ($1,350) | $1,400+ |
| March 2008 | Previous all-time high (commodities super-cycle) | $2,309 |
| September 2011 | Post-financial-crisis peak | $1,918 |
| February 2021 | Post-COVID recovery peak | $1,339 |
| August 2020 | COVID recovery rally | $1,040 |
| March 2020 | COVID pandemic crash (all-time low, modern era) | $562 |
| October 2008 | Financial crisis collapse | $761 |
| December 2015 | Multi-year bear market low | $831 |
| January 2000 | Millennium low (before commodities super-cycle) | $410 |
Platinum more than doubled in 2025, rising approximately 120% — its strongest annual performance since the early 2000s. The rally was fueled by structural supply deficits, surging investment demand, rising hydrogen economy expectations, and a weakening US dollar. The metal set a new all-time high in January 2026, decisively surpassing the March 2008 record that had stood for nearly 18 years.
See also:
Platinum Key Statistics
What Drives the Platinum Price?
Multiple factors influence platinum’s price movements, often simultaneously. The metal’s dual nature — both industrial commodity and precious metal — makes it uniquely sensitive to a wide range of economic forces:
- Automotive catalyst demand — Platinum is essential in catalytic converters for diesel vehicles and increasingly used as a lower-cost substitute for palladium in gasoline engines. Auto demand accounts for roughly 40% of total platinum consumption.
- Hydrogen economy & fuel cells — Platinum is a key catalyst in both PEM fuel cells and electrolyzers for green hydrogen production. This emerging sector represents a major long-term demand driver as global decarbonization accelerates.
- South African supply constraints — With roughly 70% of global production concentrated in South Africa, chronic underinvestment, power shortages (Eskom), and operational disruptions create persistent supply risks.
- Structural market deficits — The platinum market has been in deficit for three consecutive years (2023-2025), depleting above-ground stocks to critically low levels — around five months of demand cover.
- Jewelry demand — Platinum jewelry, led by China and Japan, represents a significant share of physical demand. Chinese retail bar demand has surged as investors seek alternatives to high-priced gold.
- US dollar & interest rates — Like other precious metals, platinum is priced in USD and benefits from a weaker dollar and lower real interest rates.
- Recycling rates — Autocatalyst recycling is a key secondary supply source. Recycling volumes have been underperforming, falling to the lowest levels in over a decade in 2024.
- Platinum-to-gold ratio — Historically, platinum traded at a premium to gold. The current deep discount (platinum at roughly 40% of gold’s price) attracts value-oriented investors and supports the reversion thesis.
Platinum vs Gold — Comparison
| Feature | Platinum | Gold |
|---|---|---|
| Annual mine production | ~190 tonnes | ~3,672 tonnes |
| Primary demand driver | Industrial (catalysts, hydrogen) | Investment & central banks |
| Geographic concentration | ~70% South Africa | Diversified globally |
| Market size (above-ground) | ~9,600 tonnes (est.) | ~216,000 tonnes |
| All-time high | $2,920 (Jan 2026) | $5,595 (Jan 2026) |
| ETF ecosystem | Small (PPLT, PLTM) | Large (GLD, IAU, SGOL) |
| Central bank reserves | Negligible | ~36,200 tonnes |
| Hydrogen economy role | Critical (fuel cells, electrolyzers) | None |
