Platinum futures plunged to around $1,760 an ounce, hitting their lowest level since December 2025, as rising inflation risks stemming from Middle East tensions weighed on precious metals. Iran launched multiple waves of missiles toward Israel over the weekend as a warning against further military actions in Lebanon, casting doubt on a fragile US–Iran ceasefire as peace talks remain stalled. The prolonged conflict and continued disruptions in the Strait of Hormuz have disrupted energy supplies from the Persian Gulf, pushing oil prices higher and intensifying global inflation concerns. This reinforced expectations of tighter monetary policy, further amplified by stronger-than-expected US employment data. Meanwhile, platinum’s downside was partly cushioned by a widening supply deficit, with the World Platinum Investment Council projecting a fourth consecutive annual shortfall in 2026, driven by constrained production from major producers and resilient industrial demand.

Platinum rose to 1,754.80 USD/t.oz on June 9, 2026, up 0.20% from the previous day. Over the past month, Platinum's price has fallen 17.47%, but it is still 44.17% 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 June 9 of 2026.

Platinum rose to 1,754.80 USD/t.oz on June 9, 2026, up 0.20% from the previous day. Over the past month, Platinum's price has fallen 17.47%, but it is still 44.17% 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 1820.15 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 2155.50 in 12 months time.



Price Day Month Year Date
Gold 4,332.01 15.05 0.35% -8.52% 30.17% Jun/09
Silver 67.71 -0.437 -0.64% -21.35% 85.10% Jun/09
Copper 6.31 0.0040 0.06% -1.68% 29.31% Jun/09
Steel 3,131.00 -5.00 -0.16% -3.27% 6.03% Jun/09
Lithium 163,750.00 750 0.46% -16.13% 171.78% Jun/08
Platinum 1,756.10 4.80 0.27% -17.41% 44.27% Jun/09
Iron Ore 101.05 -0.95 -0.93% -9.31% 5.68% Jun/08


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
1754.80 1751.30 2923.70 97.70 1968 - 2026 USD/t oz. Daily

News Stream
Platinum Futures Sink to 6-Month Low
Platinum futures plunged to around $1,760 an ounce, hitting their lowest level since December 2025, as rising inflation risks stemming from Middle East tensions weighed on precious metals. Iran launched multiple waves of missiles toward Israel over the weekend as a warning against further military actions in Lebanon, casting doubt on a fragile US–Iran ceasefire as peace talks remain stalled. The prolonged conflict and continued disruptions in the Strait of Hormuz have disrupted energy supplies from the Persian Gulf, pushing oil prices higher and intensifying global inflation concerns. This reinforced expectations of tighter monetary policy, further amplified by stronger-than-expected US employment data. Meanwhile, platinum’s downside was partly cushioned by a widening supply deficit, with the World Platinum Investment Council projecting a fourth consecutive annual shortfall in 2026, driven by constrained production from major producers and resilient industrial demand.
2026-06-08
Platinum Trades at 10-Week Low
Platinum futures traded around $1,880 an ounce, hovering near a ten-week low, pressured by broader weakness across precious metals amid growing expectations that central banks may need to raise rates to curb inflation risks from Middle East tensions. Renewed fighting in the region and attacks near the crucial Strait of Hormuz have strained a fragile ceasefire and dimmed hopes for a diplomatic resolution in the war. The prolonged conflict has also kept energy prices elevated, fueling inflation concerns and reinforcing expectations of tighter monetary policy. Meanwhile, the platinum market remains structurally tight, with the World Platinum Investment Council projecting a fourth consecutive annual supply deficit in 2026 as output in major suppliers South Africa and Russia remained constrained by aging mines, high operating costs, and sanctions-related challenges. Automotive demand also remains broadly resilient, supported by hybrid vehicle growth and tighter emissions standards.
2026-06-04
Platinum Trades Near 1-Month Lows
Platinum futures traded below $1,950 per ounce, hovering near four-week lows as uncertainty over diplomatic progress in the Middle East kept inflation risks and expectations of prolonged high interest rates in focus. Key sticking points remain, including Iran’s demand to retain control over the Strait of Hormuz and its nuclear program, while hostilities between Israel and Lebanon remained elevated, keeping talks deadlocked and clouding prospects for a broader deal. Even if negotiations progress, elevated energy prices are likely to keep inflation under pressure and support the case for interest rates remaining higher for longer. Meanwhile, the platinum market remains structurally tight, with the World Platinum Investment Council projecting a fourth consecutive annual supply deficit in 2026. Automotive demand also remains broadly resilient, supported by hybrid vehicle growth and tighter emissions standards, while jewelry consumption weakens under higher prices, particularly in China.
2026-05-28