The demand for platinum is currently showing a clear uptrend, primarily driven by an existing supply deficit and additional factors such as tariffs. Last week, the platinum price rose by about 4%, making the market particularly interesting for investors.
Development of the Platinum Price
Since the beginning of the year, platinum has already increased in value by around 50%, with an increase of about 35% recorded since May 20. This price development was, among other things, triggered by reciprocal tariffs that temporarily led to a decline in early April but subsequently resulted in a strong recovery and a sustained price increase.
Supply Deficit as the Main Driver
The supply deficit in the platinum market has existed for several years and is expected to be around 966,000 ounces for the year 2025 – similar to the previous year. This deficit causes demand to exceed supply, thereby creating upward price pressure.
Furthermore, platinum currently stands out significantly from other precious metals like gold and silver: While gold has also risen in recent months, platinum shows stronger momentum with potential for further price increases up to around $2,000 per ounce in the near future.
Future Perspectives for Platinum
In summary, it can be said:
- Platinum price recently rose to about $1,454/ounce, with a monthly increase of over 13% and an annual gain of more than 45%.
- The market activity is heavily influenced by the ongoing supply deficit.
- Additional factors such as tariffs have further fueled demand.
- Market expectations see further upward potential at least until the end of the year and mid-term next year with prices around $1,500/ounce or higher.
For investors, the current trend thus offers attractive opportunities due to the fundamental imbalance between supply and demand as well as geopolitical influences on trading conditions.
Conclusion: The upward trend in platinum is mainly reinforced by the ongoing supply deficit, while tariffs act as an additional driver – this leads to a strong price rally with significant potential for further gains in the precious metal sector.