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Highlights
- Platinum crosses US$1,300 amid global demand surge
- Industrial and green tech uses bolster market optimism
- Demand from China set to rise in H2 2025
Platinum has made a significant move in the commodities market, recently breaking above the US$1,300 an ounce mark. As of 20 June 2025, platinum is trading at US$1,315.54, continuing its sharp rally that began earlier this year. This milestone comes after the precious metal hovered just above US$1,000 earlier this month, signaling renewed interest across investment and industrial channels.
Though still well below its all-time high of over US$2,200, the current momentum is notable as platinum begins to narrow the gap with its more expensive counterparts, gold and silver. The surge in price is largely attributed to a sharp increase in demand, both from investors and industries embracing clean energy solutions.
According to the World Platinum Investment Council, investment demand for platinum bars and coins reached nearly 300 tonnes annually in 2019. That figure is now forecast to climb to 438 tonnes by the end of 2025—an almost 50% jump. Notably, China is expected to drive a significant portion of this growth in the second half of the year.
This resurgence in platinum interest also aligns with broader ASX200 market dynamics. Several companies in the ASX200 index are actively involved in mining or supplying components tied to the green energy transition, positioning them to potentially benefit from this upward trend. Explore the broader impact on the ASX200 index here.
In the industrial sector, platinum continues to play a critical role in catalytic converters, helping reduce harmful emissions from vehicles. Its application in the growing hydrogen economy is also drawing attention, especially as governments and corporations ramp up investment in cleaner alternatives. These developments are seen as contributing to structural demand that may support prices over the medium term.
Platinum’s historical price relationship with gold adds another dimension to the discussion. Traditionally, platinum has been more valuable than gold, often trading at double the price. However, today, it takes roughly three ounces of platinum to equal one ounce of gold in value. Analysts at the World Platinum Investment Council expect this valuation disparity to diminish by the end of the decade, driven by increasing demand and a tightening supply outlook.
With growing industrial utility and rising investor interest, platinum appears poised to play a larger role in the global metals market, potentially supporting the valuations of companies like South32 Limited (ASX:S32) and IGO Limited (ASX:IGO), which operate in adjacent or relevant sectors.
