Platinum has been on a remarkable run in 2025, with prices surging over 30% just in June alone, reaching around $1,390 per ounce. This marks the highest level for platinum since 2014 and sets it up for one of its best monthly performances in nearly four decades. Year-to-date, platinum has gained more than 50%, significantly outperforming gold and silver during the same period.
The main driver behind this rally is a persistent supply shortage. Experts expect these deficits to continue through at least 2029, with annual shortfalls averaging about 727,000 ounces—roughly 9% of average demand each year. These shortages come from several factors: declining above-ground stockpiles, limited supply from major producing regions like South Africa and Russia, and rising demand especially from China’s jewelry market.
Looking ahead to the rest of 2025 and beyond, many analysts believe that platinum’s price strength will hold or even improve further. Some forecasts suggest prices could reach around $1,400 by mid-2025 and potentially climb toward $1,500 by mid-2026. While volatility is expected due to market dynamics and economic shifts globally, the underlying fundamentals point toward sustained higher prices rather than a quick pullback.
For investors watching mining stocks tied closely to platinum production, this environment could translate into strong profits as companies benefit directly from elevated metal prices. The combination of ongoing structural deficits alongside increasing industrial and investment demand makes platinum an attractive asset through year-end.
In summary (without summarizing), if current trends persist—supply constraints remain tight while demand grows—platinum holding near or above $1,250 through the end of 2025 seems quite plausible based on expert outlooks so far this year.