Current Platinum Price and Platinum Rate with Charts & Calculators
Platinum is one of the rarest precious metals on Earth — roughly 30 times rarer than gold — and plays a key role in the automotive and hydrogen industries. The platinum price is strongly influenced by catalytic converter demand, supply from South Africa and developments in fuel cell technology. Here you can see the current price in euros and US dollars, updated live during trading hours. The chart, performance table and seasonality analysis provide insight into historical trends and seasonal patterns. With the historical price calculator, you can look up the platinum price for any date. In the guide below, learn why platinum currently trades at a discount to gold, which industries drive the price and how you can invest in platinum.
Here you see the current Platinum price per troy ounce (31.1 g) in your selected currency, including daily change in percent and absolute.
Below you find the current exchange rate and the price in the second currency. At the bottom are the prices per gram, troy ounce and kilogram.
Tip: When the market is open, the price updates automatically every minute.
Platinum price details →
Source: Spot
Look up the Platinum price for any date in the past. You will see open, high, low, and close prices as well as the price per gram and kilogram.
Tip: Select a date and a source (LBMA Fix = official daily fixing, Spot = market price). If no trading took place on your selected day, the nearest available rate will be shown.
| 29.05.2026 | EUR | USD |
|---|---|---|
| Open | 1,640.48 € | 1,911.49 $ |
| High | 1,657.68 € | 1,935.57 $ |
| Low | 1,630.46 € | 1,897.16 $ |
| Close | 1,639.83 € | 1,912.15 $ |
Source: Spot
The chart shows the price development of the Platinum price over the selected period. Move your mouse over the chart to see the exact price on a specific day.
Select the time period above (Today to Max). You can zoom into an area with your mouse. The statistics cards below show high, low, and change for the selected period.
Tip: In the "Today" period, you can see intraday data with per-minute resolution.
(26-05-31)
(26-05-30)
(26-05-31)
(26-05-31)
(26-01-26)
Here you can see the current platinum price converted to different weight units: gram, troy ounce (31.1 g) and kilogram.
The second row shows the price in the other currency for comparison.
Tip: A troy ounce is the international trading unit for precious metals and equals 31.1035 grams.
1 Troy Ounce = 31.1035 Grams
This table shows the current price per gram for various Platinum alloys. The fineness indicates how much pure Platinum is contained in 1000 parts.
Example: : 750/1000 means 75% pure Platinum (for gold this equals 18 carat). The price per gram is calculated according to the fineness.
| Fineness | Carat | Price / Gram |
|---|---|---|
| 585/1000 | — | 30.84 € |
| 750/1000 | — | 39.54 € |
| 950/1000 | — | 50.09 € |
| 999/1000 | Fine Platinum | 52.67 € |
| 999.5/1000 | Fine Platinum | 52.72 € |
The performance table shows how the Platinum price has developed over various time periods: from today to 5 years.
You can see the absolute change in both currencies as well as the percentage change. Green values indicate gain, red values indicate loss.
Tip: Compare the EUR and USD performance to identify the impact of the exchange rate.
| Period | EUR | % EUR | USD | % USD |
|---|---|---|---|---|
| Today | +0.00 € | +0.00 % | +0.00 $ | +0.00 % |
| 7 Days | -8.56 € | -0.52 % | -9.99 $ | -0.52 % |
| 30 Days | -57.55 € | -3.39 % | -67.11 $ | -3.39 % |
| since Jan 1 | -178.47 € | -9.82 % | -208.12 $ | -9.82 % |
| 1 Year | +734.61 € | +81.15 % | +856.64 $ | +81.15 % |
| 5 Years | +621.54 € | +61.04 % | +724.78 $ | +61.04 % |
The seasonality chart shows the average monthly return of the Platinum price over the last 20 years.
Green bars show months with historically positive returns, red bars months with negative returns.
Tip: Seasonality only shows historical averages and is no guarantee for the future.
The calendar shows the daily price change of the Platinum price as a heatmap. Each cell represents a trading day (Monday to Friday).
Green cells = price increase, red cells = price decrease.
Hover over a cell to see the exact price and change on that day.
Here you can find a quick overview of the current prices of the other precious metals. The percentage shows the daily change.
Tip: Click on a metal to go directly to its detail page.
What Is the Platinum Price?
The platinum price indicates the current market value of one troy ounce (31.1035 g) of pure platinum, quoted internationally in US dollars. Platinum is one of the rarest precious metals on Earth: it occurs approximately 30 times less frequently than gold in the Earth's crust, with an estimated concentration of just 0.005 ppm (parts per million). Despite this extreme rarity, platinum currently trades well below the gold price — a historically unusual ratio that makes the metal particularly interesting for many investors.
The history of platinum in Europe begins late: it was not until 1735 that the Spanish naval officer and scientist Antonio de Ulloa described the metal, which he discovered during an expedition in the Colombian province of Choco. However, the indigenous peoples of South America had already used platinum for jewellery and ceremonial objects for centuries before that. The Spanish conquistadors dismissively called it «platina» — «little silver» — and regarded it as an annoying by-product of gold panning that was reportedly even thrown back into rivers.
The official reference price is set by the London Bullion Market Association (LBMA) as the LBMA Platinum Price twice daily: the AM Fix at 9:45 AM and the PM Fix at 2:00 PM London time. Since 2014, the fix price has been determined via an electronic auction process by the London Metal Exchange (LME), replacing the previous telephone-based process of the London Platinum and Palladium Fixing.
Spot Price and Trading Venues
In addition to the London fixing, platinum is traded on several major exchanges:
- ◆ NYMEX/COMEX (New York) — Platinum futures under the ticker PL, contract size 50 oz
- ◆ TOCOM (Tokyo Commodity Exchange) — Traditionally one of the world's largest platinum markets, as Japan is the second-largest platinum jewellery market
- ◆ London Platinum and Palladium Market (LPPM) — The OTC market for physical delivery, organised by the LBMA
- ◆ Shanghai Gold Exchange (SGE) — A growing trading venue for platinum contracts in China
The spot price (cash price) reflects the current price on the OTC market and changes by the second during trading hours. Unlike gold and silver, the trading volume for platinum is significantly lower, which can lead to higher volatility and wider bid-ask spreads.
Platinum Price History at a Glance
The price development of platinum differs fundamentally from that of gold. While gold has risen almost uninterruptedly in recent decades, platinum has experienced dramatic highs and lows — shaped by its strong dependence on the automotive industry and geopolitical factors surrounding South Africa.
Historically, platinum was more expensive than gold for decades. From the 1980s until 2011, a simple rule of thumb applied: one ounce of platinum costs at least as much as one ounce of gold, and frequently 1.5 to 2 times as much. This relationship has completely reversed since 2015.
Gold-Platinum Ratio: The ratio of the gold price to the platinum price currently stands at historic highs (above 2.5:1). In the decades before 2015, it was almost always below 1:1 — meaning platinum was more expensive than gold. Many analysts see this as a sign of extreme undervaluation.
Historical Milestones
The historical price calculator for platinum is based on the LBMA Platinum Price, which is set twice daily: the AM Fix at 9:45 AM and the PM Fix at 2:00 PM London time. Since 2014, this fixing has been determined electronically via an auction process by the London Metal Exchange (LME). The PM Fix serves as the official daily closing price and as the settlement basis for platinum contracts, ETCs, and industrial supply agreements. Because the platinum market is smaller than the gold market, the fixings can deviate more from the spot price on individual days than is the case with gold.
A pivotal date that can be traced in the price calculator is the all-time high of 4 March 2008 at $2,308/oz. On that day, booming global automobile production, stricter emission standards, and acute supply shortages from South Africa pushed the platinum price to its historical peak — a level that has never been reached again since. Equally instructive is September 2015 as a turning point: the Volkswagen diesel scandal (Dieselgate) broke on 18 September 2015, and in the following weeks platinum began its long-term decline below the gold price — a break with the decades-long tradition that platinum was more expensive than gold. The price calculator makes this paradigm shift traceable day by day.
For platinum investors, the historical price comparison is particularly useful for analysing the gold-platinum ratio over time. By looking up both prices on various dates, you can see how the ratio has shifted: from a platinum premium (platinum more expensive than gold) until 2014 to a historic platinum discount (gold significantly more expensive) today. The calculator is also relevant for tax purposes: for physical platinum, the same one-year speculation period applies as for gold, and the historical price on the purchase date determines the basis for any capital gains. The display in multiple currencies also allows calculation of the actual return in euros — an important factor given the often underestimated exchange rate influence.
Platinum Price by Weight and Units
Platinum, with a density of 21.45 g/cm³, is one of the heaviest elements and is even denser than gold (19.32 g/cm³). A cube of platinum with 10 cm edges weighs an impressive 21.45 kilograms. This high density makes platinum bars and coins noticeably more compact than their gold counterparts at the same weight.
For investors, the following common denominations are available:
- ◆ Bars: 1 g, 5 g, 10 g, 20 g, 1 oz (31.1 g), 50 g, 100 g, 250 g, 500 g, and 1 kg
- ◆ Coins (1 oz): American Platinum Eagle (USA, since 1997), Maple Leaf (Canada, 9995 fineness), Britannia (United Kingdom), Vienna Philharmonic (Austria, since 2016), Platypus (Australia)
- ◆ Fractional Coins: 1/10 oz, 1/4 oz, 1/2 oz — primarily available for the Platinum Eagle and Maple Leaf
Since the platinum market is significantly smaller than the gold or silver market, the premiums on the spot price for physical products are typically higher. For 1 oz bars, they generally range from 3–8% above spot; for smaller denominations (1 g, 5 g), they can reach 15–25%.
Troy Ounce Converter
1 troy ounce = 31.1035 grams
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Key Drivers of the Platinum Price
Unlike gold, which primarily serves as a store of value, platinum is a highly industrial precious metal. Over 60% of annual demand comes from industrial applications. This dual nature — simultaneously an industrial and precious metal — makes the platinum price particularly sensitive to economic cycles.
Automotive Industry and Catalytic Converters
By far the most important industrial use of platinum is the manufacture of automotive exhaust catalytic converters. Platinum is the preferred catalyst for diesel engines, as it is particularly efficient at oxidizing carbon monoxide and hydrocarbons at the lower exhaust temperatures of diesel vehicles. Approximately 30–40% of total platinum demand comes from this sector.
Europe's shift away from diesel engines following the VW diesel scandal in 2015 has permanently reduced demand from this segment. While diesel accounted for over 50% of new vehicle registrations in Europe in 2015, that share has fallen below 15%. At the same time, emission standards continue to tighten: Euro 7 (from 2025/2026) mandates stricter limits, which tends to increase the platinum content per catalytic converter.
Hydrogen Fuel Cells: The Future Opportunity
The potentially greatest growth opportunity for platinum lies in hydrogen technology. In PEM fuel cells (Proton Exchange Membrane), platinum serves as an indispensable catalyst on both electrodes. A fuel cell truck requires approximately 30–60 grams of platinum — significantly more than a diesel catalytic converter (3–7 g).
- ◆ The EU Hydrogen Strategy targets an installed electrolysis capacity of 40 GW by 2030
- ◆ PEM electrolyzers used to produce green hydrogen also rely on platinum as a catalyst
- ◆ The WPIC estimates that the hydrogen economy could generate additional demand of 500,000–1,000,000 oz per year by 2030
- ◆ China, Japan, and South Korea are also investing heavily in fuel cell vehicles and infrastructure
Future scenario: Should the hydrogen economy achieve even a fraction of its potential, the additional platinum demand would put significant pressure on the annual supply of approximately 5.5–6 million oz and structurally support the price.
Jewelry Demand
Approximately 25–30% of platinum demand comes from the jewelry industry. The key markets:
- ◆ Japan: Platinum holds special cultural significance there. The platinum ring is the traditional engagement and wedding ring — unlike in Western countries, where gold dominates.
- ◆ China: The world's largest jewelry market by weight. Platinum jewelry is perceived as modern and prestigious, particularly among younger buyers.
- ◆ India: A growing market where platinum is increasingly positioned as an alternative to gold for men's jewelry.
Supply: South Africa Dominates
The supply side of platinum is extremely concentrated. Over 70% of global production comes from the Bushveld Complex in South Africa — a unique geological formation created approximately 2 billion years ago by magmatic intrusion that hosts the world's largest deposits of platinum group metals.
- ◆ South Africa: approx. 70–75% of global production (Bushveld Complex in the Limpopo and North West provinces)
- ◆ Russia: approx. 10–12% (primarily Norilsk Nickel, platinum as a byproduct of nickel mining)
- ◆ Zimbabwe: approx. 8–10% (Great Dyke, growing through new mines)
- ◆ North America: approx. 5% (Stillwater Mine in Montana, USA)
This concentration makes the platinum price vulnerable to supply shocks. Recurring issues in South Africa include:
- ◆ Eskom load shedding: South Africa's state-owned power utility often cannot meet electricity demand — planned power outages force mines to curtail production
- ◆ Labor strikes: The five-month strike in 2014 at the three largest producers cost the industry over 24 billion rand
- ◆ Deep-level mining: South African platinum mines are among the deepest in the world (up to 2,000 m), which increases extraction costs and safety risks
- ◆ Infrastructure and regulation: Water scarcity, aging infrastructure, and uncertainty surrounding the Mining Charter
Investment Demand and the Platinum Deficit
The World Platinum Investment Council (WPIC), founded in 2014 by the leading South African producers, has been documenting structural supply deficits in the platinum market for years. For 2023, the WPIC reported a deficit exceeding 1 million ounces — the largest in recent history. Deficits are also projected for 2024 and 2025.
Despite this fundamental undersupply, investment demand for platinum remains comparatively weak. Global platinum ETF holdings are well below their peak levels. Many market participants see this as a divergence between fundamentals and price that could resolve itself over the medium term.
Platinum Performance and Seasonality
Performance Table
Go to tableThe performance table for platinum shows the price development over six time periods and reveals a distinctive characteristic of this precious metal: the underperformance relative to gold since 2015. While gold has continuously reached all-time highs in recent years, platinum has traded in a range of 800 to 1,100 USD/oz since the Dieselgate shock — far from its all-time high of 2,308 USD/oz set in 2008. The performance table makes this divergence visible at a glance: compare the 5-year return of platinum with that of gold to gauge the extent of the relative undervaluation.
The EUR/USD comparison reveals a distinctive feature for platinum: since platinum responds more strongly to industrial demand cycles than gold, the USD platinum price partly correlates with economic data from China and Europe. In phases of global economic strength, the platinum price in USD can rise while a simultaneously strengthening euro dampens the EUR return — or vice versa. The EUR column in the table eliminates this exchange rate effect and shows the actual return a European platinum investor has achieved.
For contextualising the percentage values, the gold-platinum ratio provides useful perspective: if platinum outperforms gold over 30 days or year-to-date, this suggests a narrowing of the historical discount — a signal that many analysts interpret as an indication of mean reversion. The short-term figures (Today, 7 Days) are frequently influenced by South African news — load shedding at Eskom, mining strikes, or hydrogen-related developments can cause intraday swings that are often put into perspective within the longer-term trend.
Seasonality (20 Years)
Go to chartThe monthly seasonality of the platinum price is largely determined by the production cycles of the automotive industry and the particularities of South African mining production. The first quarter (January to March) historically shows a positive tendency: after the winter break, automakers worldwide ramp up production, new model lines launch, and catalytic converter suppliers such as BASF and Johnson Matthey stock up on platinum. At the same time, South African mine production at the start of the year is often still constrained by the after-effects of the rainy season and maintenance work, tightening supply.
In the second quarter, the picture reverses: South African mines in the Bushveld Complex ramp up production to normal levels after the rainy season, increasing supply and potentially dampening prices. This effect is amplified when automotive demand simultaneously stagnates seasonally. The third quarter is traditionally the weakest phase — shaped by the South African wage negotiation season. Collective bargaining between the mining union AMCU (Association of Mineworkers and Construction Union) and mine operators typically begins in June/July. The threat of protracted strikes — such as the five-month stoppage in 2014 — creates uncertainty, yet paradoxically often pushes the price down as investors shy away from the risk.
The strongest recovery frequently occurs in the fourth quarter. Jewellery demand from China and Japan rises seasonally: in China, the wedding season begins in October, and year-end business drives retail sales. In Japan, the world's second-largest platinum jewellery market, demand increases ahead of the Christmas and New Year season. Additionally, automobile sales in most markets pick up towards year-end — year-end bonuses and model changeover discounts drive new registrations, supporting platinum demand for catalytic converters. This combination of jewellery and industrial demand makes Q4 the most promising phase in the platinum annual cycle.
Performance Calendar (Heatmap)
Go to calendarThe performance calendar for platinum displays moderate volatility between the calmer gold and the more turbulent palladium. Typical daily fluctuations range from ±0.8 to 1.5%, with occasional outliers on days of fundamental news. In the calendar, this results in a varied colour distribution that, upon close examination, reveals clear patterns — particularly in connection with news from South Africa.
A particularly striking feature in the platinum calendar are red clusters triggered by South African news. Reports about load shedding (scheduled power outages by the state utility Eskom) paradoxically do not always lead to price increases: while supply is temporarily reduced, market uncertainty and concerns about an economic slowdown in South Africa can simultaneously generate selling pressure. News about mining strikes has a similar effect: the threat of industrial action can initially be supportive, but an actual strike can weigh on investor sentiment in the medium term. Diesel regulation news — such as new EU emission standards or urban driving bans — also leave visible traces in the daily colour pattern.
For platinum investors, the performance calendar offers a unique early warning mechanism: if red days accumulate despite stable gold prices, this points to platinum-specific negative factors (diesel weakness, South African issues). If, on the other hand, green days dominate while gold is weak, this can signal platinum-specific strength — for instance through substitution demand from the palladium market or positive news about hydrogen fuel cell technology. The combination of the heatmap and awareness of South African news enables a more differentiated assessment than simply looking at the platinum price in isolation.
Investing in Platinum
As an asset class, platinum offers a unique profile: it combines the properties of a precious metal with strong industrial demand and the potential of the hydrogen economy. At the same time, it has distinctive features that set it apart from gold and silver — particularly the value-added tax (VAT) liability in Germany.
Physical Platinum: Bars and Coins
Physical platinum is available in the form of bars and coins. The most common investment products are 1 oz bars and coins. Key considerations:
- ◆ Physical platinum is subject to 19% VAT in Germany (unlike gold, which is VAT-exempt)
- ◆ Premiums over the spot price are higher than for gold due to the smaller market
- ◆ Platinum bars are LBMA-certified (Good Delivery) from 1 oz upward
- ◆ Storage: Space-efficient thanks to high density — a 1 kg bar measures only about 8 x 4 x 1.5 cm
Platinum ETCs and Securities
For investors looking to avoid the VAT burden, Exchange Traded Commodities (ETCs) offer an alternative:
- ◆ WisdomTree Physical Platinum (PHPT) — The largest physically backed platinum ETC in Europe, stored in LPPM-certified vaults in London and Zurich
- ◆ Aberdeen Standard Physical Platinum Shares (PPLT) — Physically backed, listed in the USA
- ◆ Xtrackers Physical Platinum ETC — Deutsche Bank subsidiary, tradable on the Frankfurt Stock Exchange
Tip: ETCs are not subject to VAT since no physical metal is acquired. However, gains are subject to the flat-rate withholding tax (25% plus solidarity surcharge) — unlike physical platinum, which can be sold tax-free after a 1-year holding period. See the Taxes section.
Platinum Mining Stocks
Shares of platinum producers offer leveraged exposure to the platinum price. The most important publicly traded companies:
- ◆ Anglo American Platinum (Amplats) — World's largest primary producer, part of the Anglo American group, mining in the Bushveld Complex
- ◆ Impala Platinum (Implats) — Second-largest producer, mines in South Africa, Zimbabwe, and Canada
- ◆ Sibanye-Stillwater — Diversified PGM producer with mines in South Africa and the Stillwater Mine in Montana (USA)
- ◆ Northam Platinum — Focused on the Bushveld Complex, growth through the Booysendal Mine
- ◆ Platinum Group Metals (PTM) — Developer of the Waterberg project in Limpopo, one of the largest undeveloped PGM deposits worldwide
Platinum vs. Gold and Palladium
A comparison of the three most important precious metal investments illustrates their distinct profiles:
| Criterion | Platinum | Gold | Palladium |
|---|---|---|---|
| Industrial share | >60% | 7–10% | ~85% |
| Primary driver | Diesel cat. + H2 | Safe haven | Gasoline cat. |
| VAT (Germany) | 19% (margin opt.) | Exempt | 19% (margin opt.) |
| Volatility | High | Medium | Very high |
| Substitution | Platinum and palladium can substitute for each other in catalytic converters (12–18 months) | ||
| Future potential | Hydrogen/FC | Central bank buying | Limited |
Platinum-palladium substitution: When palladium is significantly more expensive than platinum (as was the case from 2019–2022), automakers begin partially switching their gasoline catalytic converters to platinum. This process takes 12–18 months (certification required) but creates additional medium-term demand for platinum. Substitution is considered one of the strongest structural price drivers for platinum.
Platinum Alloys and Purity
Platinum is processed in the jewellery industry at significantly higher purity levels than gold. While gold jewellery often has a fineness of only 585 (14 carat) or 750 (18 carat), the standard for platinum jewellery is Pt950 (950/1000). This is due to platinum's unique metallurgical properties: even at high purity, platinum is sufficiently hard and durable for jewellery production.
The most common platinum fineness levels:
- ◆ Pt999.5 — Investment grade, used for bars and bullion coins. The LBMA Good Delivery standard requires a minimum of 999.5/1000.
- ◆ Pt950 — The most widely used jewellery standard worldwide. Composed of 95% platinum and 5% alloying metals (typically copper, cobalt, iridium, or ruthenium). In Japan, the largest platinum jewellery market, Pt950 is the norm.
- ◆ Pt900 — Common in older jewellery and in certain Asian markets. Contains 90% platinum and offers greater hardness than Pt950.
- ◆ Pt850 — The lowest internationally recognised platinum fineness. Used in some countries for more affordable platinum jewellery.
A decisive advantage of platinum jewellery over white gold: platinum is naturally white-silvery and retains its colour permanently. White gold, by contrast, is an alloy of yellow gold with palladium or nickel and must be regularly coated with rhodium to maintain its silvery lustre. Furthermore, platinum is hypoallergenic — ideal for people with nickel allergies.
Hallmarks on platinum jewellery vary by country: in Germany and the EU, stamps such as «Pt950», «950 Plat», or the platinum symbol can be found. In the United Kingdom, an orb symbol is additionally used as a hallmark.
Taxes on Platinum in Germany
The tax treatment of platinum differs fundamentally from the treatment of gold and is one of the most important aspects investors should understand before making a purchase.
Value-Added Tax: 19% on Physical Platinum
Unlike investment gold, which is VAT-exempt in the EU under the Gold Directive (EU Directive 98/80/EC), physical platinum is subject to the full value-added tax of 19%. This applies to:
- Platinum bars of all sizes
- Platinum coins (including bullion coins such as Eagle, Maple Leaf, etc.)
- Platinum jewelry and granules
An exception is the so-called margin taxation (margin scheme under Section 25a of the German VAT Act): dealers who purchase pre-owned platinum coins from EU countries may charge VAT only on their trade margin rather than on the full selling price. This reduces the tax burden for the end customer to approximately 5–8% instead of the full 19%. Margin-taxed coins are therefore particularly popular among investors.
Important: The 19% VAT on physical platinum means that the platinum price must rise by at least 19% before an investor breaks even (when purchasing at the standard tax rate). This represents a significant cost disadvantage compared to gold and should be factored into any investment decision. Margin taxation substantially mitigates this disadvantage.
Holding Period and Capital Gains Tax
For physical platinum (bars and coins), the speculation period under Section 23 of the German Income Tax Act applies:
Platinum ETCs: Flat-Rate Withholding Tax
Note on platinum ETCs: Different rules apply to platinum ETCs and other securities: gains are generally subject to the flat-rate withholding tax (25% plus solidarity surcharge and, where applicable, church tax), regardless of the holding period. An exception may apply if the ETC entitles the holder to physical delivery of platinum — the tax treatment in this case is disputed and should be discussed with a tax advisor.