Platinum’s price in 2025 is showing a strong upward trend, catching the attention of investors and consumers alike. After a period of relatively modest movement in 2024, platinum prices have surged significantly this year, driven by several key factors.
One major reason behind the price rise is a tightening supply. The World Platinum Investment Council forecasts that newly mined platinum output will drop by about 6% in 2025. This reduction reverses previous growth and creates a supply deficit that puts upward pressure on prices. With less metal coming to market, demand outpaces availability, pushing prices higher.
Demand itself is growing across multiple sectors. Industrial use remains robust—especially for automotive catalytic converters which help reduce vehicle emissions—and emerging technologies like hydrogen fuel cells are increasingly relying on platinum as well. On top of industrial demand, jewellery sales have picked up strongly as rising prices boost consumer confidence rather than deter buyers.
In fact, platinum has hit its highest level in over ten years this year, climbing above $1,330 per ounce at one point and marking an increase of around 45% since the start of 2025. This rally has been supported not just by industrial needs but also by renewed investor interest and aggressive restocking from jewellers who see value in holding more inventory amid rising prices.
The perception of platinum is shifting too. Traditionally seen mainly as a jewellery metal rather than an investment asset like gold or silver, it’s now gaining recognition for its potential both as a stylish purchase and an appreciating asset class. Jewellery collections emphasizing modern designs are helping change how consumers view platinum—not only for beauty but also for long-term value.
Looking ahead through the rest of 2025 and into early 2026, forecasts suggest continued gains with prices expected to reach around $1,400 mid-year and possibly $1,500 by mid-2026 if current trends hold steady. Longer-term projections are even more optimistic with some models predicting substantial price increases over the next decade due to ongoing supply constraints combined with expanding uses across industries.
For investors considering adding platinum to their portfolios or those interested in buying physical metal or jewellery this year, understanding these dynamics is crucial: shrinking supply coupled with diverse demand sources creates fertile ground for price appreciation throughout 2025 and beyond.