The platinum price is currently showing a significant increase, which could indicate a possible turnaround in the precious metals market. This development is highly relevant for investors, as platinum is increasingly being perceived as an attractive investment option.
Factors for the Price Increase
Several key factors are contributing to the current price explosion:
Supply Deficit
Platinum production, particularly in South Africa, is hampered by structural problems. A slight supply increase of about 1% is only expected by 2025, leading to a persistent deficit.
Rising Demand
The demand for platinum is increasing, particularly from the automotive industry and the jewelry sector. Analysts expect that demand will exceed production, further driving up prices.
Investor Interest
Platinum is currently considered undervalued compared to gold, sparking interest among investors. Investment demand has increased by 28% in the first quarter of 2025, signaling growing interest in platinum.
Market Development
Global demand for platinum is expected to exceed supply for the rest of the decade, leading to continued pressure on prices.
Current Price Development
- Price Level: The platinum price increased by about 10% in May 2025, reaching a new 12-month high. On May 23, 2025, the price was about $1,095 per troy ounce.
- Forecasts: Most analysts expect moderate growth of the platinum price until the end of 2025, with forecasts between $1,054 and $1,073 per troy ounce.
Long-Term Potential
Some experts see prices of up to $3,000 per troy ounce as possible in the long term if demand continues to increase and supply remains limited. These forecasts make platinum an attractive investment option for investors looking for appreciation.
Overall, the platinum market shows strong dynamics driven by the interplay of supply and demand as well as growing interest from investors.