Platinum and gold have seen very different price paths in 2025, with platinum surging far more than gold in recent months while still trading at a discount overall. As of December 19, 2025, platinum is priced at 1,932.70 USD per troy ounce, down slightly from 1,974.30 the day before but up 28.32% over the past month and a massive 114.18% from last year.https://tradingeconomics.com/commodity/platinum Gold, by contrast, entered 2025 at record highs around 2,644 USD per ounce early in the year but has hovered in the 2,300 to 2,700 range through much of it, with averages like 2,735 USD recently.https://www.bullionvault.com/gold-news/infographics/ai-gold-precious-metal-price-forecasts
Platinum started the year much cheaper, averaging 973.80 USD in early 2025 quarters and climbing to 1,597.36 by December 4, a sharp rise fueled by supply shortages and strong demand.https://www.bullionvault.com/gold-news/infographics/ai-gold-precious-metal-price-forecasts Over 40% year-to-date gains pushed it near 1,400 USD highs, thanks to tight mine output in South Africa and automakers switching to platinum from pricier palladium.https://www.goldavenue.com/en/blog/newsletter-precious-metals-spotlight/should-you-consider-investing-in-platinum-and-palladium A market deficit of 692 thousand ounces is expected for 2025, down from earlier estimates but still supportive as South African mining recovered only partially.https://platinuminvestment.com/files/954835/WPIC_Platinum_Quarterly_Q3_2025.pdf In Q3 alone, prices jumped 16%, boosted by investor buying amid US dollar worries and demand from China jewelry, up 8% year-over-year.https://platinuminvestment.com/files/954835/WPIC_Platinum_Quarterly_Q3_2025.pdf
Gold has held steady as a safe-haven asset, beating platinum’s early-year gains but lagging the metal’s recent rally. AI forecasts like those from Gemini and Perplexity pegged gold at 2,500 to 2,900 USD through 2025, while platinum was seen lower at 850 to 1,150 USD, though actual prices beat those estimates.https://www.bullionvault.com/gold-news/infographics/ai-gold-precious-metal-price-forecasts LBMA analysts forecasted gold stronger but platinum around 991 USD on average.https://www.bullionvault.com/gold-news/infographics/ai-gold-precious-metal-price-forecasts Lately, platinum’s leap on China trading has narrowed the gap, with recent closes like 1,022 USD for platinum versus gold’s 2,735 USD.https://www.bullionvault.com/gold-news/gold-price-news/platinum-gfex-palladium-121720251
Looking ahead, analysts see platinum catching up more. Many predict 1,714 to 1,770 USD by end-2025, with optimistic calls to 2,340 USD in 2026 and even 3,853 USD by 2030.https://www.litefinance.org/blog/analysts-opinions/platinum-price-prediction-and-forecast/ Gold forecasts are bullish too but start from a higher base, potentially keeping platinum as the value play if auto demand and deficits persist.
Sources
https://www.bullionvault.com/gold-news/infographics/ai-gold-precious-metal-price-forecasts
https://www.litefinance.org/blog/analysts-opinions/platinum-price-prediction-and-forecast/
https://platinuminvestment.com/files/954835/WPIC_Platinum_Quarterly_Q3_2025.pdf
https://tradingeconomics.com/commodity/platinum
https://www.bullionvaul