Platinum prices in 2025 are showing interesting trends driven by a mix of supply challenges and growing demand. This year, the market is facing a notable shortage of newly mined platinum. Production is expected to drop by about 6%, which reverses the growth seen last year. This decline in supply creates a tighter market where demand outpaces availability.
On the demand side, several factors are pushing platinum prices higher. One key driver is increased interest from China’s jewelry market, which has been expanding its appetite for this precious metal. Additionally, investors are paying more attention to platinum as part of broader shifts in global economics—especially amid uncertainties like trade tensions and moves away from reliance on the US dollar. These conditions have made precious metals like platinum more attractive as alternative investments.
Price forecasts reflect these dynamics clearly. Early in 2025, platinum was trading below $1,000 per ounce but has since climbed steadily past $1,200 and even reached around $1,300 at times during mid-year trading sessions. Experts predict that by mid-2025 prices could hit between $1,200 and $1,400 per ounce due to ongoing supply deficits combined with steady or rising demand.
Looking beyond just this year, analysts expect these shortages to persist through at least 2029 with annual deficits averaging close to 9% of total demand each year. This sustained imbalance suggests that unless mining output increases significantly or new sources come online quickly—which seems unlikely—platinum will remain under pressure from limited supply.
In summary (without summarizing), what’s driving platinum price trends now is mainly a shrinking mine output paired with stronger consumption patterns globally—especially from jewelry sectors and investment flows reacting to economic uncertainty and currency shifts worldwide. These forces together create an environment where platinum’s value continues upward momentum throughout 2025 and likely beyond into the next few years.