Platinum prices have been on a remarkable upward journey in June 2025, reaching levels not seen since 2014. The price surged over 30% this month alone, hitting around $1,390 per ounce. This marks the best monthly performance for platinum since 1986 and has contributed to a year-to-date gain of more than 50%. In comparison, gold and silver have risen by about half that amount during the same period. Investors are increasingly drawn to platinum due to expectations of ongoing supply shortages and strong demand.
The driving force behind this rally is a persistent structural deficit in the platinum market. Experts forecast that from 2025 through 2029, annual deficits will average around 727,000 ounces each year—roughly nine percent of total demand. These shortfalls stem from several factors: declining above-ground stockpiles of platinum, limited production capacity in major mining regions, and growing consumption particularly from China’s jewelry market.
Despite recent price gains pushing platinum above key support levels near $1,225 per ounce earlier this month, analysts suggest that new momentum is needed for prices to sustain further advances beyond current highs. However, the fundamental outlook remains bullish because supply constraints are expected to continue well into the latter half of this decade.
Looking ahead through mid-2025 and beyond into the next five years, forecasts anticipate continued growth in platinum prices. Projections indicate that by mid-2025 prices could reach approximately $1,400–$1,500 per ounce as deficits persist and demand strengthens further. Over the longer term—from now until around 2030—prices may climb substantially higher as supply-demand imbalances deepen.
This rising trend benefits not only investors but also mining companies heavily involved with platinum extraction. Many such firms are already experiencing significant gains as their stocks respond positively to soaring metal prices fueled by tight markets.
In summary (without summarizing), June’s surge reflects deep-rooted market dynamics rather than short-term speculation or volatility alone; it highlights how fundamental supply shortages combined with robust demand underpin one of today’s most compelling precious metal investment stories.