Will Platinum Prices Fall in 2026?
Platinum prices are unlikely to fall sharply in 2026 based on most forecasts, though some experts see a possible dip within a wider trading range. Many analysts predict prices will climb higher overall, driven by ongoing supply shortages and demand from industries like auto manufacturing and jewelry. For instance, LongForecast expects platinum to hit $1,770 early in the year, rise to $2,080 by mid-year, and reach $2,340 by December, with a range of $1,556 to $2,457.https://www.litefinance.org/blog/analysts-opinions/platinum-price-prediction-and-forecast/
The World Platinum Investment Council (WPIC) paints a balanced picture for the market in 2026. They forecast supply rising 4% to 7.4 million ounces, thanks to more recycling and a 2% bump in mining to 5.6 million ounces. Demand should drop 6% to 7.4 million ounces, mainly because investment buying slows as trade tensions ease and investors take profits from ETFs. This could lead to a tiny surplus of 20,000 ounces, shifting from 2025’s big deficit of nearly 700,000 ounces.https://www.youtube.com/watch?v=dUhdNi5Pb0khttps://www.youtube.com/watch?v=OyWhTZoofWshttps://www.miningweekly.com/article/balanced-2026-platinum-market-forecast-dependent-on-global-trade-tension-let-up-2025-11-18
Heraeus Precious Metals offers a more cautious view, predicting prices between $1,300 and $1,800 per ounce. They note the market will still face a deficit, but a smaller one due to higher recycling in Europe. Lease rates may stay high, and while electric vehicles could cut auto demand, jewelry demand might grow, especially in China where platinum stays cheaper than gold.https://www.heraeus-precious-metals.com/en/company/press-and-news/heraeus-precious-metals-forecast-2026/
WalletInvestor sees some ups and downs, with prices starting at $1,817, peaking near $1,905 in June, then easing to $1,865 by year-end. WPIC’s Edward Sterck warns of risks like weaker demand from trade issues, but still expects the market to break out of its current tight range, likely upward.https://investingnews.com/wpic-platinum-market-forecast/
Trade tensions play a big role. If they ease, investment demand cools, helping balance supply and demand without pushing prices down much. Persistent deficits from low mining output, now at five-year lows, support higher prices long-term. Conservative estimates put 2026 around $1,710 to $1,749, but optimistic ones aim for $2,340 or more.https://www.litefinance.org/blog/analysts-opinions/platinum-price-prediction-and-forecast/
Sources
https://www.litefinance.org/blog/analysts-opinions/platinum-price-prediction-and-forecast/
https://www.youtube.com/watch?v=dUhdNi5Pb0k
https://www.youtube.com/watch?v=OyWhTZoofWs
https://www.heraeus-precious-metals.com/en/company/press-and-news/heraeus-precious-metals-forecast-2026/
https://investingnews.com/wpic-platinum-market-forecast/
https://www.miningweekly.com/article/balanced-2026-platinum-market-forecast-dependent-on-global-trade-tension-let-up-2025-11-18