In 2025, platinum has made a notable comeback with a gain of about 17%, which is quite impressive when compared to gold’s performance this year. Despite this strong rise, gold still holds a much higher price per ounce than platinum. As of mid-2025, gold trades at over $3,300 an ounce, while platinum is priced around $1,000 to $1,200 per ounce. This means gold costs more than three times as much as platinum right now.
Historically speaking, platinum used to be the more expensive metal for many decades because it’s rarer and has important industrial uses like in car catalytic converters. But since the mid-2010s, that trend flipped—gold started outpacing platinum in price and maintaining a significant premium over it.
The recent surge in platinum’s price reflects some interesting market dynamics. Platinum had been relatively quiet for years around the $900 mark but saw sharp gains early in 2025. In fact, its jump was even sharper than those of gold and silver during certain months this year—platinum rose by about 30% over one recent month alone compared to smaller increases for the others.
This spike ties into supply issues: newly mined platinum output is expected to drop by roughly 6% in 2025 due to mining challenges and other factors affecting availability. Such supply deficits often push prices higher when demand remains steady or grows.
Still, despite these gains for platinum being strong relative to its own past performance and even beating silver’s rise so far this year, it hasn’t closed the gap with gold’s lofty valuation yet. Gold continues benefiting from its status as a safe-haven asset amid economic uncertainties and inflation concerns worldwide.
Looking back at history helps put things into perspective: previous big spikes in platinum prices were followed by rapid declines not long after—like those seen around 1980 and again during the financial crisis years around 2008. So while today’s jump might signal renewed interest or tightening supply conditions for platinum investors should watch carefully how sustainable these gains are versus gold’s steadier climb.
In short: Platinum’s roughly 17% gain shows it’s having a moment after years of lagging behind but still sits well below gold on an absolute price basis—a reminder that both metals play different roles depending on market forces like industrial demand versus investment appeal.