Platinum prices have been on a remarkable upswing in June 2025, marking one of the most significant rallies in decades. The price per ounce has surged over 30% this month alone, reaching around $1,390 — levels not seen since 2014. This surge is part of a broader trend that has seen platinum climb more than 50% year-to-date, outperforming other precious metals like gold and silver by a wide margin.
What’s driving this sharp increase? The main factor is an ongoing supply shortage that experts expect to persist for several years. Platinum production is constrained by limited output from key mining regions and dwindling above-ground stockpiles. At the same time, demand continues to rise, especially from sectors like jewelry manufacturing in China and industrial uses such as automotive catalytic converters.
The World Platinum Investment Council projects that these supply deficits will average around 727,000 ounces annually through at least 2029. This shortfall represents roughly 9% of average demand each year during this period. Such structural deficits create a strong foundation for sustained price growth rather than just short-term spikes.
Investors are taking note of these fundamentals and positioning themselves accordingly. Mining companies with heavy exposure to platinum stand to benefit significantly from elevated prices and are already experiencing bullish market momentum.
Looking ahead beyond mid-2025, forecasts suggest platinum could continue its upward trajectory into the coming years. Prices may reach $1,400 by mid-2025 and potentially climb toward $1,500 within the year or so following. Over the longer term—from 2026 through the early 2030s—some projections see platinum prices doubling or even tripling compared to current levels due to persistent supply-demand imbalances combined with growing industrial applications.
For investors considering exposure to platinum now seems an opportune moment given these dynamics: tight supplies paired with rising demand create favorable conditions for price appreciation over both near- and long-term horizons. Whether through direct metal purchases or shares in mining companies poised for gains amid this rally, platinum presents compelling opportunities as it stages one of its strongest comebacks in decades.