Platinum prices have been making headlines lately, and many investors are wondering if the recent uptrend will keep going. Let’s break down what’s happening in simple terms.
Over the past year, platinum has seen some ups and downs. At the start of 2024, it was trading around $1,005 per ounce but dipped to about $967 by mid-year. However, forecasts suggest that platinum could finish 2024 close to where it started—maybe just a little higher. Looking ahead to 2025, experts expect prices to climb further, possibly reaching above $1,100 or even higher as the year goes on.
One big reason for this expected rise is a shortage in supply. Newly mined platinum is set to drop by about 6% in 2025 compared to last year. This means less platinum is coming out of the ground at a time when demand remains steady or even grows—especially from places like China’s jewelry market and industries that use platinum for things like car parts and electronics.
Market analysts also point out that global economic uncertainty plays a role. When people worry about things like trade wars or inflation, they often look for safe places to put their money—sometimes turning to precious metals like gold and silver. Platinum has started catching up with this trend too.
Recently, platinum prices have managed to stay above important support levels around $1,225 per ounce and even pushed toward $1,300 at times. This shows there’s strong buying interest whenever prices dip too low.
Looking at longer-term forecasts from different sources gives mixed signals: some say platinum could hit anywhere between $1,000 and $1,500 per ounce over the next couple of years depending on how supply shortages play out against demand growth.
So will this uptrend continue? The signs are pointing toward yes—at least for now. With ongoing supply deficits expected through most of this decade and growing interest from investors looking beyond gold and silver alone into other precious metals such as platinum itself seems poised well enough right now unless something major changes unexpectedly within world markets themselves again soon enough!