Platinum has been catching the eye of investors and industry watchers as 2025 unfolds, with many wondering if this year’s rally could set the stage for a new all-time high by 2028. The metal’s price movements and demand dynamics suggest an interesting story ahead.
Starting in early 2024, platinum was trading just above $1,000 per ounce but saw some fluctuations throughout the year. By mid-2025, forecasts indicate that platinum could reach around $1,400 per ounce and possibly hit $1,500 by mid-2026. This represents a solid upward trend compared to recent prices hovering below $1,000 earlier in 2024.
Looking beyond these immediate years, projections become even more optimistic. Between 2026 and 2030, platinum prices are expected to climb dramatically—potentially doubling or more from current levels. Some forecasts suggest prices could soar past $2,800 by around 2030 and continue rising into the next decade.
What is driving this bullish outlook? One key factor is growing industrial demand linked to green technologies like hydrogen fuel production. Platinum plays a crucial role as a catalyst in hydrogen fuel cells—a technology gaining momentum as countries push for cleaner energy solutions. Industry confidence in green hydrogen is strong; estimates show that platinum demand related to hydrogen could increase more than tenfold from about 40 thousand ounces in 2023 to nearly half a million ounces by 2028.
This surge in industrial use adds fundamental support for higher prices over time because supply constraints often limit how fast production can ramp up. Additionally, investment interest tends to rise when metals have both industrial utility and scarcity factors working together.
While short-term price swings are normal—monthly averages can vary due to market sentiment or economic news—the overall trend points toward significant growth potential over the next several years if these demand drivers hold true.
In essence, if platinum continues its rally through 2025 fueled by expanding green energy applications and tight supply conditions remain unchanged or worsen slightly, it stands on solid ground for reaching new highs well before or around the year 2028. Investors watching this space should keep an eye on technological adoption rates alongside global economic factors influencing precious metals markets because those will shape whether platinum’s climb turns into historic peaks within this timeframe.