Platinum ingots

Platinum Price Outlook

Platinum prices have fallen over the last month on soft demand dynamics, in line with prices for other precious metals. On 11 May, platinum traded at USD 857 per troy ounce, which was 3.8% lower than on the same day last month. The price was up 7.9% on a year-to-date basis but was 7.2% lower than on the same day in 2018. The price decline in recent weeks is likely partly due to soft automotive demand, with vehicle sales in China, the EU and the U.S. declining in annual terms so far this year. In particular, EU sales of diesel vehicles—which use more platinum in catalytic converters—plummeted in Q1. Moreover, weaker safe-haven demand during much of April, due to perceived progress in U.S.-China trade talks, could have added further downward pressure. Supply concerns have also lessened since a court in South Africa—the world’s largest platinum producer—denied the Association of Mineworkers and Construction Union’s (AMCU) request to hold an industry-wide strike. In addition, the South African government announced its intention to deregister AMCU in late April, just before wage negotiations at platinum mines are due to begin. This likely soothed investor worries over potential output disruptions.

Platinum Price History Data (USD per troy ounce, aop)

2013  2014  2015  2016  2017  2018  
Platinum1485.41  1383.61  1151.85  987.37  948.13  879.15  

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Price forecasts and historical data for Energy, Metals and Agricultural Commodities.

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Platinum Historical Price Chart


Platinum historical price chart
Note: Platinum prices in USD per troy ounce (toz). Daily prices.

Sample Report

Price forecasts and historical data for Energy, Metals and Agricultural Commodities

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