Platinum has been quietly making waves in the metals market this year. While gold has long been the go-to precious metal for investors, platinum is now catching attention with a notable price surge. In 2025, platinum prices have jumped about 44%, outpacing gold’s rise of around 29%. This shift is partly due to what some call “gold fatigue”—investors are growing tired of gold’s high prices and limited growth potential, so they’re turning to platinum as an attractive alternative.
One big reason for platinum’s appeal is its unique position as both a precious metal and an industrial material. It plays a crucial role in industries like automotive manufacturing, especially in catalytic converters that reduce vehicle emissions. This dual demand helps support its price more robustly than metals that serve mainly one purpose.
On the supply side, things look tight. The World Platinum Investment Council expects newly mined platinum output to drop by about 6% in 2025 after recent growth years. This shrinking supply combined with steady or rising industrial demand creates a supply deficit that tends to push prices higher.
Looking at numbers, experts predict platinum could reach $1,200 per ounce soon and even climb toward $1,400 by mid-2025 and $1,500 by mid-2026 if current trends continue. Prices have already held strong above key support levels near $1,225 recently and even touched targets around $1,300 during bullish trading phases.
Investor interest backs these forecasts too—platinum exchange-traded funds (ETFs) saw record inflows recently as money shifted from gold into this undervalued metal. With platinum still trading at roughly half its peak price from nearly a decade ago despite stronger fundamentals today, many see room for further gains ahead.
In short, the combination of tightening supply chains amid steady industrial use plus shifting investor sentiment away from gold sets up an intriguing outlook for platinum prices going forward. Whether you’re watching markets or thinking about investing in precious metals beyond traditional favorites like gold and silver, keeping an eye on how platinum performs could be worthwhile as it carves out new momentum this year and beyond.