Platinum Leads Precious Metals Safe-Haven Surge

There is currently a pronounced flight to safe haven assets, with precious metals—especially platinum—attracting heightened investor interest amid global uncertainty, trade tensions and currency depreciations. Platinum has surged more than 75% in 2025, outpacing gold and silver, thanks to a convergence of factors: persistent supply deficits, robust industrial and jewelry demand (especially in China), its comparative affordability versus gold and its regained status as a superior store of value.

While gold has long been regarded as the traditional refuge in times of turmoil, today platinum is increasingly being recognized once again as a store of value in its own right.

FOMO — Fear Of Missing Out With Gold

The World Gold Council’s John Reade, quoted by Leslie Hook in the Financial Times, noted that “fear of missing out, or FOMO, was starting to kick into the market” as investors rushed to catch gold’s historic rally.

FOMO — Fear Of Missing Out With Platinum?

While FOMO has driven gold above $3,900—nearly four times its estimated all-in sustained production costs—we believe FOMO should remain a long way from emerging in the platinum market, where prices trade at less than ~1.5x sustained production cost and offer far more compelling asymmetry.

With platinum facing a persistent structural supply deficit amid constrained mine output and limited above-ground stocks, the risk-reward dynamic is even more pronounced and FOMO seem far away. At the same time, investment demand has only just begun to recover from multi-decade lows, suggesting significant upside potential should capital flows continue to return to the market.

Annual Global Gold Production: 116,300,000 ounces
Annual Global Platinum Production: 5,430,000 ounces

Value of Annual Gold Production: $373,323,000,000 usd
Value of Annual Platinum Production: $6,787,500,000 usd

Total Above-Ground Gold Stock: 7,000,000,000 ounces
Total Above-Ground Platinum Stock: 9,200,000 ounces

Platinum Making Headlines in Financial Press

The analysis by Sybilla Gross, Jack Ryan, and Yihui Xie in Bloomberg’s recent article “Platinum Crunch Comes to a Head as US and China Snap Up Metal” echoes what the platinum market has been experiencing—the persistent supply crunch and rapidly dwindling available metal have put platinum firmly in the spotlight as one of the best-performing commodities of 2025. This article’s insights strongly align with prevailing market dynamics and reinforce the narrative that platinum is making headlines globally, as robust demand amidst inventory uncertainty forces traders and investors to rethink their strategy.

Platinum’s Rising Role as an Inflation Hedge

Platinum’s attraction as an inflation hedge has further fueled its ascent. Amid persistent inflation across major economies, monetary easing, and record government deficits, investors are increasingly leaning toward precious metals. Portfolio managers have diversified into platinum both for its scarcity value and for its role as a low-cost alternative to gold and silver.

The case for platinum and gold as a hedge against inflation remains compelling. As governments grapple with elevated debt levels and increasing political insecurity, platinum, gold and silver stands out as a signal of enduring market demand for real assets.

Platinum’s role as an inflation hedge and safe haven asset is likely to persist as the world pivots toward hard assets—signaling a broader move to anchor wealth in tangible stores of value. This ongoing shift reflects rising skepticism toward fiat currencies, particularly as high debt and inflation increase the appeal of assets backed by genuine scarcity and real-world utility.