Platinum prices have been making headlines in June 2025, with the market experiencing some of its most dramatic moves in years. The metal, known for its use in everything from car parts to jewelry and even new hydrogen technologies, has seen a wild ride this month.
At the start of June, platinum was already on a strong upward trend. Prices surged past $1,330 per ounce—a level not seen since September 2014. This jump marked a whopping 45% increase since the beginning of the year. The main reason behind this rally is simple: there’s just not enough platinum to go around right now. Mines are producing less than before—output is expected to drop by about 6% this year—while demand keeps growing, especially from places like China and India.
China’s jewelry market has become a big player in driving up demand for platinum. At the same time, investors are looking at platinum as an alternative safe-haven asset when gold gets too expensive or volatile. This shift has made platinum more attractive compared to gold and silver.
But it hasn’t all been smooth sailing for platinum prices this month. After hitting those decade-high levels earlier in June, prices took a step back around mid-month. Some of that pullback came because of rising tensions in the Middle East and signals from central banks that interest rates might stay higher for longer than many had hoped.
Despite these ups and downs, experts agree that underlying supply shortages will likely keep pushing prices higher over time. Forecasts suggest annual deficits could average nearly three-quarters of a million ounces each year through at least 2029 if current trends hold.
So what does all this mean? Platinum is caught between strong industrial demand and tight supplies while also being influenced by global economic uncertainty and shifting investment patterns among precious metals buyers worldwide.
Looking ahead into summer and beyond: expect continued volatility but with an overall upward bias as long as supply remains tight relative to growing uses across industries large and small alike!