Platinum prices have been quite active in June 2025, showing both strong gains and some recent pullbacks. Earlier this month, platinum surged past $1,330 per ounce, reaching its highest level in over a decade. This rally was driven by a combination of factors including a significant supply shortage and strong demand from major markets like China and India. The metal’s industrial uses—especially in automotive catalytic converters and emerging technologies such as hydrogen fuel cells—have kept demand robust amid tightening supplies.
The price jump marked about a 45% increase year-to-date, reflecting how platinum has become more attractive not only for industrial purposes but also as an alternative safe-haven asset compared to gold. The ratio between gold and platinum prices dropped to a three-year low during this rally, highlighting investors’ growing interest in platinum.
However, the market saw some retreat around mid-June when geopolitical tensions in the Middle East escalated alongside hawkish signals from the U.S. Federal Reserve. These developments put pressure on commodity markets broadly, causing platinum prices to slip slightly after their peak.
Despite this recent dip, many analysts remain optimistic about platinum’s outlook due to ongoing supply deficits that are expected to persist throughout 2025. Mining output is forecasted to decline by about 6% this year according to industry reports, which could keep upward pressure on prices if demand remains steady or grows further.
Looking ahead toward the end of 2025 and into 2026, forecasts suggest that platinum could continue its upward trajectory with moderate gains expected through the rest of the year. Some projections see prices climbing above $1,400 per ounce by mid-2025 and potentially reaching around $1,530 or more early next year as market fundamentals stay tight.
Over longer time horizons spanning several years beyond 2026 into the early 2030s, there is potential for even more substantial price increases driven by sustained supply constraints combined with expanding industrial applications for platinum metals.
In summary (though not ending with one), June has been marked by notable volatility but overall strength for platinum prices fueled mainly by supply challenges and solid demand drivers across key sectors worldwide.