Platinum options trading has surged in 2025, with September’s average daily volume reaching 1,500 contracts, up 62% YTD

There is increasing market focus on platinum, fueled by industrial demand, green energy trends, and investment interest

Trend is not yet apparent

For the first time since April 2013, a troy ounce of Platinum now costs more than $1,600. The extent of the price increase undoubtedly gives cause for skepticism, but Platinum is still very cheap compared to Gold in historical terms. This may have sparked buying interest.

The first significant inflows were also recorded in the Platinum ETFs tracked by Bloomberg over the last five trading days. However, holdings remain low, and a trend is not (yet) apparent.

Platinum Soars 50% as Investors Diversify Portfolios, Hedge Inflation

Investors are flocking to platinum in 2025 as an inflation hedge, seeking assets that central banks cannot print amid persistent above-target inflation and declining interest rates

Platinum’s appeal is driven by its scarcity and value as a diversification tool alongside gold and silver for protecting portfolios against currency devaluation

Platinum has surged above $1,600 for the first time since 2013, driven by supply tightness, elevated lease rates, and safe-haven inflows alongside gold and silver

Platinum is under scrutiny as part of President Trump’s Section 232 investigation into critical minerals, with potential US import tariffs expected to be decided in October

Foreign Investors Find a Secure Path: Iran Opens Gateway for Gold, Silver, and Platinum

Across the world, momentum is shifting decisively toward hard assets, as both governments and private investors turn to precious metals for stability

Against a backdrop of persistent geopolitical uncertainty and mounting fears of currency devaluation, newly emerging policy frameworks are increasingly positioning precious metals at the centre of long-term financial security

Rhodium is highlighted as one of the most critical minerals for the U.S. economy

With a potential trade disruption—especially from South Africa—projected to result in over $64 billion in annual GDP losses due to its strategic importance in key industries

The 6 PGMs, Platinum, Palladium, Rhodium, Ruthenium, Iridium, and Osmium are mined together — PGMs are only getting started

The Bullish Case For Platinum

Platinum’s above-ground market value is extremely small compared to gold and silver— just $4.5 billion versus $25,992 billion for gold and $413 billion for silver

Even modest new investor demand can make platinum’s price surge, and recent deficits have massively reduced inventories, adding to its bullish outlook

Medical demand for platinum forecast to reach new high this year

Few recognize the strengthening demand profile for Platinum, and even fewer are aware of the growing surge in investment demand

Demand for platinum as an investment product is currently “extremely strong”

“What’s really interesting is that where we’re seeing the strongest growth in platinum investment demand is in the smaller bar sizes and in coins, which is a clear indicator of broad-based demand.”

The Evolution of Platinum

From refinery disruptions and trade wars to the industrial evolution of autocatalysts, platinum has weathered structural deficits, policy changes, and waves of demand

China Emerges as a Key Pillar of the Global PGM Market

China accounted for 64% of global platinum bar and coin demand in 2024, up from just 11% in 2019

Platinum Price Soars in Strong Uptrend

Platinum has been building a steady bullish trend since 2020 and the long-term outlook points higher

As long as the key support from that low holds, prices are expected to keep rising over the coming months

What’s Really Driving the Platinum Price?

Few see that platinum is regaining its status as a store of value

Recycling catalytic converters is cheaper than mining for platinum group metals, but ~6% of the 12M recycled each year are stolen

The widespread recycling and theft of catalytic converters is driven by platinum’s rarity and high market value. Platinum-group metals are essential for reducing vehicle emissions and are in constant demand for automotive, pharmaceutical, and industrial uses, making converters a sought-after target for both recyclers and criminals.

From Decline to Deficit: Platinum Jewelry’s Untapped Potential

Jewellery is still the second largest driver of platinum demand (~18%), but demand has dropped by half since 2014 — with white gold replacing platinum, a major shift is underway

BofA analysts recently noted that even a 1% switch in gold to platinum in jewellery could help double the platinum’s metal supply deficit to 1.6M ounces

Platinum’s $PPLT among the world’s 7 top-performing ETFs in 2025

Platinum’s abrdn Physical Platinum Shares ETF ($PPLT) has surged into the ranks of the world’s seven top-performing ETFs of 2025, bolstered by platinum’s rally to 11-year highs and a year-to-date gain of over 50%.

WPIC Q2 2025 Platinum Quarterly report

The World Platinum Investment Council — WPIC has published their Q2 2025 Platinum Quarterly report

The investment trend in Platinum continues its course as we continue to advocate that Platinum is regaining its store of value

Forget gold or even silver. Platinum is outperforming both with 57% rally in 2025

Brokerage Samco Securities echoes this view, pointing out that platinum’s surge has been driven by South African production disruptions, younger buyers shifting into platinum jewellery, and ETF inflows as investors reassess its undervaluation relative to gold