Platinum is showing strong signs of a big year in 2025, with many experts and market watchers expecting prices to reach new highs. After a slow start in 2024, platinum has gained momentum this year, driven by tight supply and growing demand, especially from China.
At the beginning of 2024, platinum was trading just above $1,000 per ounce but dipped slightly during the year. However, forecasts suggest that by mid-2025 the price could climb to around $1,400 per ounce and possibly reach $1,500 by mid-2026. This would mark a significant increase compared to current levels and even more so compared to prices from previous years.
One key factor behind this bullish outlook is the ongoing supply deficit. Mining output has been falling—particularly in South Africa—and recycling rates have dropped as well. The World Platinum Investment Council predicts that total supply will shrink by about 4% this year to its lowest level in five years. At the same time, global stocks of platinum are shrinking fast; they are expected to fall by about a quarter in 2025. This means there’s less platinum available on hand relative to how much people want.
Demand is also picking up sharply. Chinese investors have been buying more platinum bars and jewelry as an alternative investment amid high gold prices. In April alone, Chinese imports jumped nearly 50% compared to March—the highest monthly volume seen recently—which shows strong appetite for this precious metal.
All these factors combined—tightening supply alongside rising demand—are pushing platinum prices upward through 2025. Some analysts see potential for prices not only breaking past recent resistance levels around $1,225 but also moving beyond $1,333 or even higher later in the year if momentum continues.
Looking further ahead into the next decade or so paints an even brighter picture for platinum holders: forecasts suggest it could double or triple over time due partly to increasing industrial uses like hybrid vehicle production alongside investment interest.
So far in 2025 alone, platinum has surged over 20%, making it one of the best-performing precious metals currently available on markets worldwide—a trend likely fueled by both structural shortages and investor enthusiasm from key regions such as China.
In short: all signs point toward a very strong performance for platinum throughout this year with potential record-breaking price levels if current trends hold steady or accelerate further into late 2025 and beyond.