Factors Influencing the Platinum Price
1. Tariffs and Trade Tensions
Recent trade tensions, particularly the announcement of tariffs on various imports, have led to an increased demand for safe havens. Platinum benefits from this development as it is considered a safe investment alternative.
2. Supply Deficit
The platinum market is experiencing a significant supply deficit, which is estimated to reach about 966,000 ounces by 2025. This marks the third consecutive year in which a deficit is expected, further driving prices up. The deficit is exacerbated by limited mine production and challenges in recycling.
3. Demand and Investments
The rising demand for platinum is driven by the recovery of the automotive industry and Chinese investments. These factors contribute to a growing interest in platinum.
4. Price Development and Forecasts
The platinum price has seen a sharp increase in recent months, reaching a ten-year high of over $1,420 per ounce at the end of June. Currently, the price stands at about $1,454.50 per ounce. Forecasts suggest that the price could rise to $2,000 per ounce, driven by strong momentum and the existing supply deficit.
Outlook for Investors
For investors in the commodities sector, platinum is currently particularly interesting as it has proven to be the best-performing major commodity in 2025. The gold-platinum ratio has decreased, indicating renewed investor interest in platinum. The combination of rising demand, limited supply, and current geopolitical tensions makes platinum an attractive investment option.