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
Every point on this curve is a recorded Platinum quote from the window you have chosen. Run the pointer along the line and the tooltip reveals the exact level reached on that particular trading day.
The buttons above switch the window, running from Today through to Max. Drag across a stretch of the curve to magnify it. Beneath the chart, three summary cards report the peak, the trough and the net move.
Tip: Choose Today and the series resolves down to a single reading per minute.
(24/08/26)
(21/08/26)
(23/08/26)
(23/08/26)
(26/01/26)
Name a date and the lookup returns what Platinum was worth on it: the opening and closing levels, the extremes reached in between, and the equivalent figures per gram and per kilogram.
Tip: Pick your date. Should London have been shut that day, the lookup falls back to the closest session it holds.
| 21/08/2026 | GBP | USD |
|---|---|---|
| Open | 1,336.14 £ | 1,823.17 $ |
| High | 1,392.75 £ | 1,900.25 $ |
| Low | 1,335.32 £ | 1,822.43 $ |
| Close | 1,370.76 £ | 1,870.25 $ |
Source: Spot
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Enjoying what you see and read?
We pour our heart into keeping preciousmetalprices.com fast, clean and free — no paywalls, no clutter, just reliable facts and live prices. If it helps you, the nicest way to say thank you is to pass it on. Every share helps a fellow investor discover us and keeps the project going. 💛
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 | — | 25.74 £ |
| 750/1000 | — | 32.99 £ |
| 950/1000 | — | 41.79 £ |
| 999/1000 | Fine Platinum | 43.95 £ |
| 999.5/1000 | Fine Platinum | 43.99 £ |
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 | GBP | % GBP | USD | % USD |
|---|---|---|---|---|
| Today | -13.27 £ | -0.82 % | +0.00 $ | +0.00 % |
| 7 Days | +81.37 £ | +5.35 % | +109.61 $ | +6.23 % |
| 30 Days | +236.60 £ | +17.33 % | +289.37 $ | +18.30 % |
| since Jan 1 | -229.23 £ | -12.52 % | -250.10 $ | -11.80 % |
| 1 Year | +451.24 £ | +39.22 % | +537.95 $ | +40.38 % |
| 5 Years | +724.45 £ | +82.58 % | +854.35 $ | +84.10 % |
Twenty years of Platinum data, averaged calendar month by calendar month and condensed into a single bar chart.
Bars in green mark months that averaged a gain; those in red averaged a loss.
Tip: Averages describe the past. They carry no promise about the months ahead.
One square per trading session, Monday through Friday, shaded by the daily move in the Platinum price.
Sessions that closed up appear green, sessions that closed down appear red.
Point at a square to read the level and the move behind it.
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 covers one troy ounce of the pure metal, 31.1035 g, quoted internationally in dollars. Platinum is genuinely scarce: it occurs in the earth's crust at something like 0.005 parts per million, perhaps thirty times more sparingly than gold. Despite that it currently changes hands well below the gold price, an inversion of the historical order that a good many investors regard as an opportunity rather than a verdict.
Europe came to the metal late. It was 1735 before the Spanish naval officer Antonio de Ulloa described it, having encountered it on an expedition to the Chocó region of what is now Colombia, though South American metalworkers had been using it for ornament and ceremony for centuries already. The conquistadors were unimpressed and called it «platina», little silver, treating it as a nuisance that fouled their gold washings and by some accounts tipping it back into the rivers.
The benchmark is the LBMA Platinum Price, administered under the auspices of the London Bullion Market Association and struck twice daily at 9:45 am and 2:00 pm London time. The auction has been run electronically by the London Metal Exchange since 2014, superseding the telephone procedure of the old London Platinum and Palladium Fixing.
Spot Price and Where It Is Made
Away from the London auction, platinum changes hands on a handful of exchanges:
- ◆ NYMEX/COMEX (New York) — Futures under the ticker PL, 50 oz to a contract
- ◆ TOCOM (Tokyo) — Long one of the deepest platinum markets, Japan being the second-largest buyer of platinum jewellery
- ◆ London Platinum and Palladium Market — The over-the-counter market for physical delivery, organised under the LBMA
- ◆ Shanghai Gold Exchange — A steadily growing venue for platinum contracts in China
The spot price reflects the over-the-counter market and moves second by second whilst dealing is open. Volumes are a fraction of those in gold or silver, and the consequence for anyone buying physical metal is wider spreads and sharper moves — worth remembering, since platinum also carries 20% VAT in the United Kingdom and none of the legal tender relief that shelters the sovereign and the Britannia.
Platinum Price History at a Glance
Platinum's price record bears almost no resemblance to gold's. Where gold has ground steadily higher across recent decades, platinum has lurched between extremes, held hostage by motor manufacturing and by whatever happens to be going on in South Africa.
For a very long stretch platinum was simply the dearer metal. From the 1980s until 2011 a rough rule held good: an ounce of platinum cost at least as much as an ounce of gold, and frequently half again or double. That relationship has stood entirely on its head since 2015, and it has been more expensive than gold for decades only in the history books.
Gold-Platinum Ratio: Divide the gold price by the platinum price and the reading now sits at record territory, north of 2.5:1. Through most of the decades before 2015 it stayed under 1:1, meaning platinum was the pricier of the two. Plenty of analysts read the present figure as a sign of deep 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: platinum bars and coins carry none of the sterling currency exemption that shields sovereigns and Britannias, so a disposal is chargeable at 18 % or 24 % of the gain above the annual exempt amount, and since the holding time is irrelevant the recorded purchase price is the only figure that limits the charge. 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 is dense — 21.45 g/cm³, appreciably heavier than gold at 19.32 — which is why a platinum bar always feels smaller than the number stamped on it suggests. A 10 cm cube of the metal would weigh 21.45 kilograms. In practice it means platinum coins and bars take up noticeably less room than gold of the same weight.
The formats on offer to a private buyer are these:
- ◆ 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): Britannia (Royal Mint), American Platinum Eagle (from 1997), Maple Leaf (Canada, 999.5 fine), Vienna Philharmonic (Austria, from 2016) and the Australian Platypus
- ◆ Fractional coins: tenth, quarter and half ounce, chiefly in the Platinum Eagle and Maple Leaf series
The platinum market is a fraction of the size of the gold or silver market, and dealing premiums reflect that: usually 3 to 8% over spot on 1 oz bars, and 15 to 25% once you drop to 1 g or 5 g. Add the 20% VAT that applies to platinum in the United Kingdom, from which only investment gold is relieved, and the true break-even on a small purchase sits a long way above the spot price you started from.
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 platinum performance table exposes the defining fact about this metal since 2015: it has fallen a long way behind gold. Whilst gold has posted record after record in recent years, platinum has traded in a band between roughly 800 and 1,100 dollars an ounce ever since the diesel emissions scandal, a world away from the 2,308 dollars it reached in 2008. Put the 5-year figures for the two metals next to each other and the size of the gap speaks for itself.
Comparing the sterling and dollar columns reveals something particular to platinum. Because it answers to industrial demand rather more than gold does, the dollar price tracks manufacturing data out of China and Europe. A period of global industrial strength can lift platinum in dollars whilst a firming pound flattens the sterling return, and the reverse happens just as often. The GBP column strips the ambiguity out and shows what a British platinum holder has genuinely made.
To place the percentages in context, keep an eye on the gold-platinum ratio. Platinum beating gold over 30 days or year-to-date suggests the historic discount is closing, which many analysts read as the first sign of mean reversion. The short columns are frequently distorted by South African headlines, since load shedding at Eskom, wage disputes or a hydrogen announcement can move the price intraday in ways the longer windows quietly absorb. One practical footnote for UK readers: platinum enjoys none of the legal tender relief that shelters sovereigns and Britannias, so the gains in this table are chargeable ones.
Seasonality (20 Years)
Go to chartPlatinum's seasonal rhythm is dictated by two things: the production calendar of the motor industry and the operating pattern of South African mines. The first quarter has historically leaned positive. Vehicle assembly ramps back up after the winter break, new model lines are launched, and autocatalyst makers such as Johnson Matthey and BASF build inventory. At the same time South African output early in the year is often still constrained by the aftermath of the rainy season and by scheduled maintenance, which keeps supply tight.
The second quarter reverses the arrangement. Mines across the Bushveld Complex return to normal rates once the rains have passed, supply loosens and prices come under pressure, an effect compounded whenever automotive demand is seasonally flat at the same moment. The third quarter is traditionally the weakest of all, dominated by South Africa's wage bargaining round. Negotiations between the mining union AMCU and the producers usually open in June or July. The prospect of a long stoppage, of the sort that shut the platinum belt for five months in 2014, creates uncertainty, and counterintuitively that uncertainty tends to push the price down as investors step away from the risk.
The best recovery generally arrives in the final quarter. Jewellery demand from China and Japan picks up seasonally: the Chinese wedding season opens in October and year-end retail follows, whilst Japan, the world's second-largest platinum jewellery market, buys ahead of Christmas and the New Year holiday. Vehicle sales in most markets also firm towards December, helped along by year-end bonuses and run-out discounts on outgoing models, which feeds through to autocatalyst demand. Jewellery and industry pulling together make the fourth quarter the most promising window in platinum's year.
Performance Calendar (Heatmap)
Go to calendarPlatinum's performance calendar occupies the middle ground, calmer than palladium and busier than gold. A normal session moves it ±0.8 to 1.5%, with the occasional outlier when something fundamental lands. The result is a mixed palette that, looked at closely, arranges itself into recognisable patterns, most of them traceable to news out of South Africa.
The red clusters are the giveaway. Reports of load shedding, the rolling blackouts imposed by the state utility Eskom, do not reliably lift the price the way one might expect: supply is curtailed, certainly, but the same headlines raise doubts about the South African economy and bring sellers out. Mining strikes behave similarly. The threat of industrial action can firm the price, whilst an actual stoppage tends to sour sentiment over the following weeks. Diesel policy leaves its own marks too, whether that is a fresh European emissions standard or a city centre restriction, and those days stand out clearly in the grid.
Used carefully, the calendar becomes an early warning device. Red days piling up whilst gold holds firm point to something specific to platinum: diesel weakness, or trouble on the Bushveld. Green days accumulating whilst gold drifts lower suggest the opposite, platinum-specific strength, perhaps substitution demand spilling over from palladium or a positive turn in hydrogen fuel cell news. Read alongside the South African headlines, the heatmap gives you a far more nuanced view than the price line on its own ever will.
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. It also comes with a handicap gold does not carry — a 20% VAT charge on every physical purchase in the UK.
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 carries 20% VAT in the UK, where investment gold carries none
- ◆ 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 anyone unwilling to hand over a fifth of the purchase price in VAT, Exchange Traded Commodities are the obvious alternative. Several are listed in London; judge them on substance rather than on the ticker:
- ◆ Custody — the better products hold allocated bars in LPPM-recognised vaults in London or Zurich and publish the bar list
- ◆ Ongoing charge — usually a little steeper than for gold products, and paid out of the metal itself
- ◆ Where it is listed — a London line settles in sterling and spares you the paperwork that comes with a US-listed alternative
The trade-off: no VAT arises on an ETC, because no metal is delivered to you. On the way out, though, an ETC and a platinum bar are treated alike – both produce a chargeable gain under the Taxation of Chargeable Gains Act 1992, with no exemption for long holding. See the tax section below.
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 (UK) | 20% (full price) | Exempt | 20% (full price) |
| 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 jewellery is worked at purities gold could never survive. Where a gold ring is typically 375 or 750, the platinum standard is Pt950, and the reason is metallurgical rather than commercial: platinum stays hard enough and tough enough to hold a stone even when it is 95% pure, so there is no need to dilute it.
The finenesses you will actually encounter:
- ◆ Pt999.5 — Bullion grade for bars and coins, including the platinum Britannia. LBMA Good Delivery demands nothing less than 999.5.
- ◆ Pt950 — The dominant jewellery standard worldwide and the one British assay offices see most: 95% platinum with copper, cobalt, iridium or ruthenium making up the balance. In Japan, the largest jewellery market for the metal, it is effectively the only standard.
- ◆ Pt900 — Found in older pieces and across parts of Asia. Slightly harder than Pt950 at the cost of a little value.
- ◆ Pt850 — The lowest fineness recognised internationally, used where the price of the finished article has to come down.
The practical case for platinum over white gold comes down to permanence. Platinum is white the whole way through and stays that colour for life. White gold is yellow gold alloyed with palladium or nickel and needs its rhodium plating renewed every few years as it wears through at the shank, a running cost most buyers are never warned about. Platinum is also free of nickel, which settles the matter for anyone with a reaction to it.
Hallmarking: platinum has been compulsorily hallmarked in the United Kingdom since 1975, above a threshold of half a gram, and the assay offices apply an orb-and-cross mark alongside the fineness figure. Continental pieces may instead be stamped «Pt950», «950 Plat» or with the platinum symbol; those are descriptions rather than British hallmarks, and an article without a UK mark cannot lawfully be sold here as platinum.
VAT and Capital Gains Tax on Platinum
Platinum is taxed as a commodity, not as money. That single distinction accounts for every difference between platinum and gold on this page, and it costs a fifth of the purchase price on day one.
VAT: 20% on Physical Platinum
The VAT exemption in Group 15 of Schedule 9 to the Value Added Tax Act 1994 is reserved for investment gold. Platinum sits outside it and takes the standard rate of 20% in every physical form:
- Platinum bars of all sizes
- Platinum coins (including bullion coins such as Eagle, Maple Leaf, etc.)
- Platinum jewelry and granules
There is no way round it, and that is worth stating plainly because the internet says otherwise. The second-hand margin scheme is not open to precious metals: HMRC excludes them from the margin schemes in terms (VATMARG02100), and the guidance usually cited for the opposite view, VAT Notice 718, was withdrawn on 23 December 2021. A pre-owned platinum coin therefore carries the full 20% on the whole selling price, exactly as a new bar does. If a dealer quotes you a margin-scheme price, ask in writing which VAT treatment the invoice relies on before you commit.
Do the maths first: buy standard-rated platinum and the metal must climb 20% simply to return you to your starting point. That is a substantial head start to give away on an asset this volatile, and it is the main reason British investors reach for an exchange-traded product or leave the metal in an overseas vault instead.
Capital Gains Tax When You Sell
Platinum bars and bullion coins are chargeable assets under the Taxation of Chargeable Gains Act 1992, and nothing about holding them for longer changes that:
Why Gold Buyers Get an Exemption and You Do Not
The legal tender rule: Sovereigns and Britannias escape Capital Gains Tax because they are sterling coinage, not because they contain precious metal – disposing of currency is simply not a chargeable disposal. Platinum bullion coins issued abroad, such as the American Eagle or the Canadian Maple Leaf, carry no sterling face value and therefore no exemption. Report anything payable to HMRC through Self Assessment; if a holding is large or was acquired in tranches at different prices, the pooling rules repay a conversation with a qualified adviser.