The Hidden Demand Boom Behind Platinum Prices
Platinum prices have skyrocketed in 2025, hitting $1,974 per ounce on December 18, up over 114 percent from last year. This surge hides a powerful wave of demand from unexpected corners that few people talk about every day.https://tradingeconomics.com/commodity/platinumhttps://fortune.com/article/current-price-of-platinum-12-18-2025/
One big driver is jewelry. Shoppers worldwide are snapping up platinum pieces because it costs less than gold right now. Experts predict jewelry demand will jump 7 percent this year to 2,157 thousand ounces, the most since 2018. In China, it’s exploding up 44 percent to 594 thousand ounces thanks to wholesalers stocking up early. North America sees 5 percent growth to 467 thousand ounces, and Europe keeps climbing for a fifth straight year at 6 percent to 365 thousand ounces.https://platinuminvestment.com/news
Investment is another hidden force. Bars and coins are hot, especially in China where demand could hit 418 thousand ounces, pushing total bar and coin buying up 47 percent to 522 thousand ounces, a four-year peak. Overall investment demand grows 6 percent to 742 thousand ounces. Even with some profit-taking from exchange-traded funds, stock builds on exchanges reached 358 thousand ounces in the third quarter amid tariff worries.https://platinuminvestment.com/news
Cars and industry add fuel too. Automakers use platinum in catalytic converters as rules get tougher on emissions, with vehicle demand at 3.03 million ounces this year. Industrial uses hit records in glass and chemicals before stabilizing. Supply struggles in South Africa, the top producer, make things tighter, leading to a market deficit of 692 thousand ounces by year-end.https://gerrardsbullion.com/invest/2026-platinum-predictions-will-tight-supply-keep-prices-high/https://www.prnewswire.com/news-releases/platinum-market-to-end-2025-with-692-koz-deficit-potential-easing-of-tariff-fears-leads-to-a-more-balanced-platinum-market-in-2026-302619223.html
Analysts see prices climbing to $1,770 by December, with some saying $1,900 or more as these demands collide with limited supply. Trading volume on futures markets jumped 500 percent early this year, showing real excitement.https://www.litefinance.org/blog/analysts-opinions/platinum-price-prediction-and-forecast/https://investingnews.com/wpic-platinum-market-forecast/
Sources
https://platinuminvestment.com/news
https://investingnews.com/wpic-platinum-market-forecast/
https://www.litefinance.org/blog/analysts-opinions/platinum-price-prediction-and-forecast/
https://gerrardsbullion.com/invest/2026-platinum-predictions-will-tight-supply-keep-prices-high/
https://fortune.com/article/current-price-of-platinum-12-18-2025/
https://tradingeconomics.com/commodity/platinum
https://www.prnewswire.com/news-releases/platinum-market-to-end-2025-with-692-koz-deficit-potential-easing-of-tariff-fears-leads-to-a-more-balanced-platinum-market-in-2026-302619223.html