Track the live platinum spot price per troy ounce, gram, and kilogram with the table and chart below. Retail bullion is priced at spot plus premiums that vary by product and dealer—compare dealers on FindBullionPrices.com.
| Platinum Spot Price | Bid | Ask | Change | % Change |
|---|---|---|---|---|
| Price Per Ounce | $1980.22 | $1985.22 | $0.00 | n/a |
| Price Per Gram | $63.67 | $63.83 | $0.00 | n/a |
| Price Per Kilo | $63665.46 | $63826.21 | $0.00 | n/a |
Default view shows daily averages for the last 30 days. Other ranges load on demand.
Platinum is one of the rarest precious metals on Earth, approximately 15–20 times rarer than gold in terms of annual mine production. Its price is shaped by a unique combination of industrial demand, automotive sector dynamics, and investment interest.
Platinum’s primary industrial use is in catalytic converters, which reduce harmful emissions from internal combustion engines. The automotive sector accounts for approximately 40% of annual platinum demand. Diesel vehicles use significantly more platinum than gasoline vehicles, which is why platinum prices have been influenced by European diesel policies and emissions regulations.
Beyond automotive applications, platinum is used in petroleum refining, chemical manufacturing, electronics, glass production, and medical devices. Its exceptional resistance to corrosion and high melting point make it invaluable in harsh industrial environments.
Platinum supply is highly concentrated geographically. South Africa produces approximately 70% of the world’s platinum, with Russia contributing another 12–15%. This concentration creates significant supply risk—labor strikes in South African mines, power outages (a recurring issue), or geopolitical sanctions on Russia can all disrupt supply and drive prices sharply higher.
Historically, platinum traded at a premium to gold due to its greater rarity and industrial utility. From 1987 to 2014, platinum was consistently more expensive than gold. This relationship reversed in 2015, and platinum has traded below gold ever since. Many long-term investors view this discount as a potential opportunity, particularly if automotive or hydrogen fuel cell demand increases.
Platinum plays a critical role in hydrogen fuel cell technology, serving as the primary catalyst in proton exchange membrane (PEM) fuel cells. As governments worldwide invest in hydrogen infrastructure for transportation, heating, and industrial applications, platinum demand from this sector is projected to grow substantially. The World Platinum Investment Council estimates that hydrogen-related platinum demand could reach 1–2 million ounces annually by 2035, compared to less than 100,000 ounces today. This emerging demand source represents a potential structural shift in the platinum market.
Platinum bullion products include coins such as the American Platinum Eagle, Canadian Platinum Maple Leaf, and Australian Platinum Platypus, as well as platinum bars in sizes from 1 gram to 10 ounces. Premiums on platinum products tend to be higher than gold or silver due to lower production volumes and a smaller dealer market. However, platinum’s current discount to gold—combined with its industrial demand profile and hydrogen economy potential—makes it an appealing option for investors seeking diversification within the precious metals space. Compare products with our closest-to-spot search.
FindBullionPrices.com tracks platinum prices from live commodity market feeds, updated throughout the trading day. We compare platinum bullion prices across multiple online dealers so you can find the lowest premiums available. Visit our methodology page for details on how we collect and verify pricing data.
The platinum spot price is the current market price for one troy ounce of platinum for immediate delivery. It is determined by trading on the NYMEX/COMEX and the London Platinum and Palladium Market (LPPM). The spot price serves as the baseline from which dealer premiums are calculated.
Platinum traded above gold for most of modern history, but the relationship reversed in 2015 due to declining diesel vehicle demand in Europe, reduced investment interest, and strong gold inflows. Whether platinum will return to a premium over gold depends largely on automotive trends, hydrogen fuel cell adoption, and investment demand recovery.
Approximately 40% of platinum demand comes from automotive catalytic converters, 30% from jewelry, 20% from other industrial applications (petroleum refining, chemicals, glass, electronics, medical), and 10% from investment. Emerging demand from hydrogen fuel cells could significantly change this mix over the coming decade.
Physical platinum cannot typically be purchased at the exact spot price. Dealers charge a premium above spot for manufacturing and distribution. Platinum premiums tend to be higher than those for gold or silver due to lower production volumes. Use FindBullionPrices.com to compare platinum prices across dealers.
Popular platinum bullion products include the American Platinum Eagle (1 oz, 1/2 oz, 1/4 oz, 1/10 oz), the Canadian Platinum Maple Leaf, the Australian Platinum Platypus, and platinum bars from manufacturers like PAMP Suisse, Valcambi, and Johnson Matthey. Platinum coins from sovereign mints typically carry higher premiums but offer government-backed purity guarantees.
Platinum and palladium are both platinum group metals (PGMs) used in catalytic converters, but they serve different vehicle types. Platinum is preferred in diesel catalytic converters, while palladium dominates gasoline vehicle applications. Palladium prices surged above platinum from 2018 to 2022 due to strong gasoline vehicle demand, but ongoing substitution research may narrow this gap.
Platinum offers diversification within the precious metals space due to its unique supply and demand dynamics. Its current discount to gold, combined with potential demand growth from hydrogen fuel cells, makes it appealing to contrarian investors. However, platinum’s smaller market and higher volatility mean it carries more risk than gold. Consult a financial professional before making investment decisions.
Platinum can be stored in a home safe, bank safe deposit box, or professional depository, similar to gold and silver. Because platinum is denser than gold (it’s one of the densest metals), even large dollar values occupy relatively little space, making home storage practical for modest holdings.
