Platinum prices in June 2025 have been marked by significant movements influenced by a mix of supply challenges, demand shifts, and broader economic factors. After reaching a decade-high earlier this month, platinum experienced a slight retreat but remains elevated compared to previous years.
The price surge earlier in June pushed platinum above $1,330 per ounce, reflecting a strong rally driven primarily by persistent supply deficits. Mining output is expected to decline about 6% this year, reversing gains from last year and tightening the market further. This ongoing shortage has been compounded by dwindling above-ground stocks and disruptions in the physical flow of metal across key regions. At the same time, demand from sectors such as automotive catalytic converters remains robust due to stricter emissions regulations globally. Additionally, growing interest from China’s jewellery market has added upward pressure on prices.
Economic uncertainty also plays an important role in shaping platinum’s price dynamics. Global growth forecasts have been downgraded amid geopolitical tensions—particularly those affecting the Middle East—and cautious monetary policies like those seen with recent Federal Reserve actions. These factors have created volatility but also increased investor interest in precious metals as alternative safe havens alongside gold and silver.
Looking ahead through 2025 and beyond into the next five years, analysts expect these supply deficits to persist with annual shortfalls averaging around 9% of total demand through 2029. This structural imbalance supports a bullish outlook for platinum prices over the medium term despite potential economic headwinds.
Price forecasts suggest that after some fluctuations mid-2025—with projections around $1,400 per ounce—platinum could continue climbing steadily into early 2026 and beyond. Predictions indicate possible rises toward $1,500 or more within the next year or two as market fundamentals remain tight.
In summary (though not concluding), June’s developments highlight how deeply intertwined supply constraints and shifting global demand are driving platinum’s price behavior this year—a trend likely to influence its trajectory well into the future.