At $1,289 per ounce, platinum sits at a price point that invites the question: should you buy now or wait for a dip? The answer depends on several factors related to supply, demand, and market trends.
First off, platinum is currently experiencing a significant supply deficit. In 2025 alone, newly mined platinum output is expected to drop by about 6%, reversing recent growth in production. This shortage is not just a one-year blip; forecasts suggest that annual deficits will continue through at least 2029. These persistent shortfalls mean less metal available in the market relative to demand.
On the demand side, interest in platinum has been rising sharply. The metal’s price has already surged by around 45% this year due to tightening supplies and growing industrial uses—especially in automotive catalytic converters and emerging hydrogen fuel cell technologies. Additionally, strong jewellery sales are boosting demand further as consumers see platinum not only as an elegant choice but also as an investment asset gaining value.
Historically, platinum prices have hovered around the $1,000 mark for years with frequent fluctuations above and below it. However, recent market dynamics have pushed prices well above this pivot point into new territory unseen for over a decade.
Looking ahead into mid-2025 and beyond, analysts predict that prices could climb even higher—to $1,400 or more—as deficits persist and investor interest grows stronger. This suggests that waiting for a dip might mean missing out on potential gains if these trends hold true.
That said, markets can be unpredictable in the short term. Platinum has shown range-bound behavior before where it oscillates near key levels like $1,000 without sustained moves upward or downward immediately following shifts in fundamentals.
If you’re considering buying at $1,289:
– **Buying now** means entering during an upward trend supported by real supply constraints and expanding demand.
– **Waiting for a dip** carries risk because any pullback may be limited given ongoing shortages; dips might be shallow or brief.
In essence, if your goal is long-term investment or exposure to industrial metals benefiting from green technologies (like hydrogen fuel cells), purchasing at current levels could make sense given strong fundamentals pushing prices higher over time.
However — if you prefer lower entry points based on historical volatility — patience might pay off but with no guarantee of significant price drops soon due to tight supply conditions globally.
So whether you buy now or wait depends largely on your risk tolerance and investment horizon amid these evolving market forces shaping platinum’s outlook today.