In 2025, platinum broke a 50-year record by showing a surge of over 80% in prices, leaving gold and silver behind. The price increase was driven by a drop in supply, industrial demand, and jewelry demand. Although it has not yet reached its 2008 peak level, platinum's future looks b.
Platinum Record: Platinum showed an unprecedented surge of 80% in prices in 2025, breaking a 50-year record, while gold and silver lagged behind in this regard. A shortage in supply, production hurdles in South Africa, and industrial and jewelry demand led platinum prices to reach $1,637.75 per ounce. Experts believe this upward trend may continue in the coming period.
50-Year Record Broken
Platinum prices have registered a surge of about 80 percent this year. In international markets, the price of platinum has reached $1,637.75 per ounce, whereas last year it was $903.83 per ounce. This means platinum has seen an increase of $733.92 per ounce in the current year. With this rally, platinum has broken a 50-year-old record.
17-Year Record Still Intact
Although platinum has broken a 50-year record, it has not reached its peak price of $2,250 per ounce, which was set in 2008. Currently, it is approximately 27 percent below the 2008 peak. According to experts, this record could not yet be broken due to a decline in platinum prices in 2023 and 2024.
Gold and Silver Prices Also Surge
This year, gold prices have seen an increase of 51 percent. Gold is trading at $3,977.45 per ounce in the COMEX spot market. Meanwhile, silver prices have risen by 69 percent, with its price nearing $49 per ounce.
Experts state that gold and silver prices may rise further in the coming days. The main reasons behind this are global economic uncertainty and investors' search for safe-haven assets.
Continuous Decline in Production
A major reason for platinum's surge is the decline in production. In South Africa, the world's largest platinum-producing country, production has fallen by 24 percent due to heavy rainfall, power outages, and water shortages. Furthermore, low investment and the energy crisis have further limited supply.
According to the World Platinum Investment Council, an estimated shortage of 850,000 ounces will occur in the global market in 2025. This marks the third consecutive annual deficit and indicates a tight supply in the market.
Tremendous Increase in Demand
Platinum demand is also growing rapidly. Its use in the automotive sector, catalytic converters, and green technologies accounts for 70 percent of the total demand. China has also focused on platinum compared to gold and has increased jewelry production by 26 percent.
Experts state that platinum's investment demand has seen a year-on-year increase of 300 percent. Furthermore, platinum's role in the hydrogen economy makes it even more crucial in the future.
