Platinum prices have been showing interesting movements in 2025, and many are curious about what to expect for the rest of the year. After a period of trading mostly between $900 and $1,100 per ounce over recent years, platinum recently broke above $1,200, hitting levels not seen since mid-2021. This shift signals a potentially new phase for platinum pricing.
One key reason behind this price rise is a persistent supply deficit. From 2025 through 2029, annual platinum deficits are expected to average around 727 thousand ounces each year. This means demand consistently outpaces supply by roughly 9%, which naturally puts upward pressure on prices. These deficits stem from various factors including reduced above-ground stockpiles and geographic mismatches between where platinum is mined versus where it’s needed.
Another important driver is growing demand from China’s jewelry market alongside industrial uses that continue to require platinum. At the same time, global economic uncertainty has increased due to shifting trade policies and slower growth expectations worldwide. Such uncertainty often pushes investors toward precious metals like platinum as a store of value or hedge against inflation.
Looking at forecasts for the second half of 2025 specifically, analysts expect prices to climb modestly after reaching around $1,117 mid-year. By year-end, projections suggest platinum could close near $1,140 per ounce—an increase of about 18% compared to early-2025 levels.
However, some caution remains as further momentum will be needed for prices to surpass key resistance points such as $1,300 an ounce in the near term. The market will be watching closely whether ongoing supply constraints combined with steady or rising demand can sustain this bullish trend beyond just short-term gains.
In summary (without summarizing), while challenges remain in global economics and trade dynamics that could influence investor sentiment or industrial consumption patterns unexpectedly during the second half of 2025, current fundamentals point toward continued strength in platinum pricing driven by tight supplies and solid demand growth globally.