Platinum has more upside potential than gold right now due to its massive gains in 2025, tight supply shortages, and growing demand from industries like cars and clean energy, while gold sits near all-time highs with less room to run.[1][5][7] Investors are shifting money from gold into platinum because it trades at a deep discount compared to gold, with the platinum-to-gold ratio at historic lows around 0.4 to 0.5.[1] This gap has led to platinum outperforming gold big time this year, jumping over 90 percent in some reports, or around 57 to 95 percent depending on the measure, pushing prices to levels not seen since 2008 or 2011.[1][4][5][7]
Gold has done well too, climbing toward $5,000 an ounce on safe-haven buying from central banks, rate cut hopes, and global tensions.[5] Over the past 10 years, gold is up over 300 percent, but platinum has only risen 100 percent in that time, making it look cheap now.[1] Both metals benefit from falling interest rates and a weaker dollar, but platinum gets an extra boost from real-world uses.[5][7] It goes into car parts to clean exhaust, hydrogen fuel cells, and jewelry, especially from China.[4][6] The renewable energy boom, expected to hit $4.9 trillion by 2033, will need more platinum.[1]
Supply problems make platinum’s case even stronger. Experts predict a third straight year of shortages in 2025, with a deficit of 69,200 ounces, as mining can’t keep up with demand from autos and green tech.[4][5][7] Gold does not face the same crunch. Some forecasts see platinum hitting $2,170 to $2,300 by 2026 if things stay favorable.[1] Shorter-term views are more modest, around $1,000 or so, but that still beats low expectations for big jumps.[2] Prices recently touched $1,831, up 19 percent in a month.[7]
Platinum is denser than gold at 21.45 grams per cubic centimeter versus gold’s 19.3, so you can pack more value into less space for storage.[3] It is rarer too, adding to its appeal when industry demand spikes.[3] Gold shines as a steady store of value, but platinum mixes that with growth from factories and tech shifts.[3][5] Capital rotation from overpriced gold into undervalued platinum, plus Trump tariff talks hitting supply chains, fuels this trend.[1][5]
While gold keeps drawing safe-haven fans, platinum’s combo of cheap pricing, supply squeezes, and industrial hunger points to bigger gains ahead.[1][4]
Sources
https://www.fxempire.com/forecasts/article/platinum-price-forecast-gold-rotation-fuels-platinum-breakout-toward-2300-by-2026-1567402
https://www.bullionvault.com/gold-news/infographics/ai-gold-precious-metal-price-forecasts
https://www.usgoldbureau.com/news/post/gold-and-platinum-density
https://investinghaven.com/commodities-gold/is-platinum-stealing-the-spotlight-from-gold/
https://news.futunn.com/en/post/66352937/gold-and-platinum-surge-together-rate-cut-expectations-and-geopolitical
https://www.goldavenue.com/en/blog/newsletter-precious-metals-spotlight/should-you-consider-investing-in-platinum-and-palladium
https://markets.financialcontent.com/wral/article/marketminute-2025-12-16-precious-metals-surge-gold-silver-platinum-and-palladium-flash-bullish-signals
https://fortune.com/article/current-price-of-platinum-12-17-2025/