Platinum and gold both act as safe havens during tough economic times, but platinum has shown stronger price gains in 2025 while gold holds steady as the more reliable choice over the long term.[1][3][4]
Gold has long been the go-to safe haven asset. Investors turn to it when inflation rises, stock markets drop, or geopolitical tensions grow. Central banks buy gold to protect their reserves, and people purchase gold bars, coins, and ETFs for security. In 2025, gold started the year at record highs and kept climbing due to Federal Reserve rate cuts, a weaker U.S. dollar, and steady demand from around the world.[6] Forecasts see gold averaging over $2,700 per ounce this year, with some banks predicting up to $4,450 by 2026.[2][6] Its price stability comes from limited new mining supply and strong interest from investors hedging against uncertainty.[6]
Platinum, a rarer metal in the platinum-group metals family, works differently. Most of its demand comes from industry, like car catalytic converters and hydrogen energy tech, rather than just jewelry or bars. This makes platinum more volatile but with big upside potential. In 2025, platinum prices jumped about 57% to 77% year-to-date, reaching levels like $1,922 per ounce by mid-December and even $1,831 earlier.[1][3][4] Chinese jewelry demand has surged, with double-digit growth expected next year, and investment flows into platinum ETFs have added fuel.[1] A key driver is the expected supply deficit in 2025, with output from major producers like South Africa dropping to multi-year lows, creating shortages of hundreds of thousands of ounces.[1][3]
When comparing them as safe havens, gold wins on reliability. It has a proven track record through crises like 2008, acting as an inflation hedge without big industrial swings.[4][6] Platinum outperformed gold this year with gains over 57%, but its price can crash if factories cut back, as seen after 2008 when it fell below $800 despite peaking over $2,100.[1][4] Platinum trades cheaper than gold right now, around $1,600 to $1,900 per ounce versus gold’s higher levels, making it appealing for value seekers.[1][2][4] Yet analysts forecast modest platinum gains for 2025, around $1,000 average, due to past underperformance against gold.[2]
Both metals benefit from 2025 trends like rate cuts and economic worries, but platinum’s rally ties more to supply shortages and Chinese buyers removing metal from the market.[1][3] Gold draws broader appeal from central banks and global uncertainty.[6] Investors eyeing diversification might mix them, using gold for steady protection and platinum for potential higher returns if industrial demand holds.[4][5]
Sources
https://investinghaven.com/commodities-gold/is-platinum-stealing-the-spotlight-from-gold/
https://www.bullionvault.com/gold-news/infographics/ai-gold-precious-metal-price-forecasts
https://markets.financialcontent.com/wral/article/marketminute-2025-12-16-precious-metals-surge-gold-silver-platinum-and-palladium-flash-bullish-signals
https://fortune.com/article/current-price-of-platinum-12-17-2025/
https://www.goldavenue.com/en/blog/newsletter-precious-metals-spotlight/should-you-consider-investing-in-platinum-and-palladium
https://www.usgoldbureau.com/news/post/gold-on-the-rise-why-now-is-the-best-time-to-buy-physical-gold
https://discoveryalert.com.au/gold-silver-renaissance-2025-investment-insights/
https://www.kitco.com/news/article/2025-11-19/balanced-platinum-market-2026-wont-fix-fundamental-long-term-issues-wpic