Platinum futures traded around $1,600 an ounce, hovering near their lowest level since November 2025, as a stronger US dollar outweighed easing inflation concerns amid improving global energy supply. Oil prices returned near pre-war levels as crude shipments through the Strait of Hormuz continued to recover, while signs of progress in US-Iran peace talks further eased concerns over potential supply disruptions. However, the US dollar remained broadly firm, making dollar-denominated commodities such as platinum more expensive for buyers of other currencies. Despite Fed Chair Kevin Warsh saying inflation expectations had eased over the past month, markets continued to price in more than a 60% chance of a September rate hike as he reaffirmed the Fed's commitment to restoring price stability, while strong US data underscored the economy’s resilience. Meanwhile, the platinum market remains structurally tight, as output from major producers South Africa and Russia remains constrained.

Platinum rose to 1,639.50 USD/t.oz on July 2, 2026, up 2.48% from the previous day. Over the past month, Platinum's price has fallen 12.54%, but it is still 19.31% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Platinum reached an all time high of 2923.70 in January of 2026. Platinum - data, forecasts, historical chart - was last updated on July 2 of 2026.

Platinum rose to 1,639.50 USD/t.oz on July 2, 2026, up 2.48% from the previous day. Over the past month, Platinum's price has fallen 12.54%, but it is still 19.31% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Platinum is expected to trade at 1784.37 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 1952.64 in 12 months time.



Price Day Month Year Date
Gold 4,139.07 107.71 2.67% -6.67% 24.44% Jul/02
Silver 61.91 2.830 4.79% -14.83% 68.01% Jul/02
Copper 6.17 0.0457 0.75% -4.81% 21.06% Jul/02
Steel 3,042.00 -4.00 -0.13% -4.31% -0.26% Jul/02
Lithium 162,500.00 2500 1.56% -4.69% 161.67% Jul/02
Platinum 1,646.00 46.10 2.88% -12.19% 19.78% Jul/02
Iron Ore 98.36 -1.84 -1.84% -6.44% 3.40% Jul/01


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. The data is supplied by a third party and, while efforts are made to ensure its accuracy, Trading Economics does not verify the data and makes no representations or warranties regarding its accuracy..
Actual Previous Highest Lowest Dates Unit Frequency
1639.50 1599.90 2923.70 97.70 1968 - 2026 USD/t oz. Daily

News Stream
Platinum Trades Near 7-Month Lows
Platinum futures traded around $1,600 an ounce, hovering near their lowest level since November 2025, as a stronger US dollar outweighed easing inflation concerns amid improving global energy supply. Oil prices returned near pre-war levels as crude shipments through the Strait of Hormuz continued to recover, while signs of progress in US-Iran peace talks further eased concerns over potential supply disruptions. However, the US dollar remained broadly firm, making dollar-denominated commodities such as platinum more expensive for buyers of other currencies. Despite Fed Chair Kevin Warsh saying inflation expectations had eased over the past month, markets continued to price in more than a 60% chance of a September rate hike as he reaffirmed the Fed's commitment to restoring price stability, while strong US data underscored the economy’s resilience. Meanwhile, the platinum market remains structurally tight, as output from major producers South Africa and Russia remains constrained.
2026-07-02
Platinum Extends Losses to 7-Month Low
Platinum futures fell to near $1,550 an ounce, hitting a fresh seven-month low and posting steep second straight monthly and quarterly losses as Middle East uncertainties and wagers of US interest rate hikes dampened demand. The Federal Reserve have adopted a more hawkish stance this month, while strong US economic data underscored the economy’s resilience, prompting markets to price in at least one hike this year, coming as early as September. This makes the dollar stronger, making dollar-denominated commodities more expensive for buyers of other currencies. Meanwhile, persistent concerns that disruptions to energy flows through the Strait of Hormuz could fuel global inflation have also reinforced expectations that interest rates will stay higher for longer, weighing on non-yielding metals. While US and Iran resumed their peace negotiations, a major sticking point remains after Tehran reiterated its plan to oversee traffic through the Gulf even if Oman decides not to take part.
2026-06-30
Platinum Trades Near 7-Month Lows
Platinum futures traded around $1,600 an ounce, hovering near their lowest level since November 2025 as precious metals broadly weakened after renewed clashes in the Middle East reignited inflation concerns. Although the US and Iran agreed to pause further attacks after recent exchange of strikes around the Strait of Hormuz, oil prices climbed as the latest escalation disrupted the recovery in oil shipments through the key waterway that had followed an earlier interim deal. The US dollar also remained broadly stronger, making dollar-denominated commodities such as platinum more expensive for buyers of other currencies. Markets continue to anticipate that the Federal Reserve will raise rates this year after a hawkish tone from new Chair Kevin Warsh and upward revisions to inflation forecasts. Meanwhile, the platinum market remains structurally tight as output from major producers South Africa and Russia remains constrained by aging mines, high costs, and sanctions-related disruptions.
2026-06-29