Platinum Price OutlookPlatinum prices have dipped over the last month, even as prices for sister-metal palladium continued to surge and prices for other precious metals climbed. On 8 February, platinum traded at USD 799 per troy ounce, which was down 2.6% from the same day last month. The price was 0.6% higher on a year-to-date basis but was down 18.1% from the same day in 2018. The drivers underpinning the soft platinum market have been unchanged in recent months. Overall demand is tepid, due to weak automobile demand as European consumers shift away from diesel vehicles—which use more of the commodity in catalytic converters—to gasoline and hybrid vehicles. Moreover, global platinum production is elevated, leading to an ample supply overhang. The change in the Federal Reserve’s monetary stance and solid safe-haven demand due to concerns over global economic momentum, the U.S. government shutdown and Brexit-related uncertainty were unable to provide significant support to prices.
Platinum Price History Data (USD per troy ounce, aop)
Price forecasts and historical data for Energy, Metals and Agricultural Commodities.
Platinum Historical Price Chart
Price forecasts and historical data for Energy, Metals and Agricultural Commodities
Start Your Free Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.