Platinum futures traded below $1000 per troy ounce in fourth week of November, the lowest since early October, tracking a general fall in prices of precious metals as the dollar rallied after Fed Chair Powell was nominated for a second term, a sign the central bank will continue its tightening plans. Elsewhere, Chalice Mining made its best platinum discovery in Western Australia’s Gonneville deposit, with official estimates of a USD 3 billion pre-revenue market capitalization. On the corporate front, Northam Platinum Holdings announced a ZAR 17 billion deal to secure a one-third stake in Royal Bafokeng Platinum.

Historically, Platinum reached an all time high of 2290 in March of 2008. Platinum - data, forecasts, historical chart - was last updated on November of 2021.

Platinum is expected to trade at 930.44 USD/t oz. by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 863.18 in 12 months time.

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Platinum


Price Day Month Year
Gold 1,792.69 4.52 0.25% -0.22% 0.26%
Silver 23.13 0.025 0.11% -3.80% 1.92%
Copper 4.28 -0.1545 -3.48% -2.46% 25.27%
Steel 4,295.00 -71.00 -1.63% -11.21% 5.79%
Iron Ore 96.50 -4.00 -3.98% -17.52% -25.48%
Lithium 197,500.00 0 0% 3.13% 406.41%
Platinum 953.68 -41.57 -4.18% -5.62% -1.03%


Platinum
Platinum is mostly traded on the New York Mercantile Exchange, the Tokyo Commodity Exchange and the London Bullion Market. Platinum futures contract trades in units of 50 troy ounces. Platinum is among the world's scarcest metals and is used primarily in the production of automotive catalytic converters, in petroleum refineries and in the chemical and electrical industry. South Africa accounts for 80% of production followed by Russia and North America. Platinum prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.