Platinum Price History & Chart
From the diesel-era boom and 2008 peak of $2,290/oz through the Dieselgate collapse, Eskom power crises, and the emerging hydrogen economy. Explore platinum's full price timeline.
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Platinum Price by Year (1971–2025)
LBMA annual average price per troy ounce in USD
| Year | Avg Price (USD/oz) | YoY Change | |
|---|---|---|---|
| 1970s — New Market & Oil Crises | |||
| 1971 Platinum begins free trading | $112 | — | |
| 1972 | $119 | +6.3% | |
| 1973 Oil crisis; industrial demand grows | $150 | +26.1% | |
| 1974 | $175 | +16.7% | |
| 1975 | $163 | -6.9% | |
| 1976 | $153 | -6.1% | |
| 1977 | $158 | +3.3% | |
| 1978 Auto catalyst demand emerges | $260 | +64.6% | |
| 1979 Second oil crisis; catalytic converter regulations | $445 | +71.2% | |
| 1980s — Auto Catalyst Era & Volatility | |||
| 1980 Inflation peak; investor demand | $677 | +52.1% | |
| 1981 | $446 | -34.1% | |
| 1982 Recession hits auto demand | $327 | -26.7% | |
| 1983 | $424 | +29.7% | |
| 1984 | $357 | -15.8% | |
| 1985 | $291 | -18.5% | |
| 1986 South African supply fears | $461 | +58.4% | |
| 1987 Auto catalyst demand grows | $553 | +19.9% | |
| 1988 | $522 | -5.6% | |
| 1989 | $507 | -2.9% | |
| 1990s — Range-Bound & Emerging Markets | |||
| 1990 | $467 | -7.9% | |
| 1991 Recession; Russian supply floods market | $371 | -20.6% | |
| 1992 | $360 | -3.0% | |
| 1993 | $374 | +3.9% | |
| 1994 | $405 | +8.3% | |
| 1995 | $425 | +4.9% | |
| 1996 | $397 | -6.6% | |
| 1997 Asian crisis | $395 | -0.5% | |
| 1998 Russian supply disruptions | $372 | -5.8% | |
| 1999 | $377 | +1.3% | |
| 2000s — Diesel Boom & 2008 ATH | |||
| 2000 European diesel adoption accelerates | $544 | +44.3% | |
| 2001 | $529 | -2.8% | |
| 2002 | $539 | +1.9% | |
| 2003 Diesel demand surges | $691 | +28.2% | |
| 2004 | $846 | +22.4% | |
| 2005 | $897 | +6.0% | |
| 2006 Eskom power concerns begin | $1,142 | +27.3% | |
| 2007 | $1,303 | +14.1% | |
| 2008 ATH at $2,290 in March; crashes to $750 | $1,572 | +20.6% | |
| 2009 Post-crisis recovery begins | $1,205 | -23.3% | |
| 2010s — Dieselgate & Structural Decline | |||
| 2010 Auto recovery; investment demand | $1,610 | +33.6% | |
| 2011 Commodity supercycle peak | $1,721 | +6.9% | |
| 2012 Marikana labor unrest in South Africa | $1,552 | -9.8% | |
| 2013 | $1,487 | -4.2% | |
| 2014 Strike at S.A. mines; slow recovery | $1,385 | -6.9% | |
| 2015 Dieselgate scandal hits platinum demand | $1,053 | -24.0% | |
| 2016 Diesel bans announced; demand falls | $987 | -6.3% | |
| 2017 | $948 | -4.0% | |
| 2018 EV adoption accelerates; platinum suffers | $880 | -7.2% | |
| 2019 | $862 | -2.0% | |
| 2020s — Hydrogen Economy & Recovery | |||
| 2020 COVID crash to $600; strong recovery | $883 | +2.4% | |
| 2021 Hydrogen economy hype; supply deficits | $1,090 | +23.4% | |
| 2022 Fed hikes; risk-off environment | $963 | -11.7% | |
| 2023 Persistent supply deficits from S.A. | $967 | +0.4% | |
| 2024 Hydrogen deployments begin scaling | $985 | +1.9% | |
| 2025 Fuel cell + electrolyzer demand grows | $1,010 | +2.5% | |
24h Change
24h Range
Bid / Ask
All-Time High
Platinum Price Through the Decades
Platinum's price history is uniquely tied to the automotive industry, particularly diesel engines that rely on platinum-based catalytic converters to reduce harmful emissions. Unlike gold and silver, platinum is not a monetary metal. Its value is driven by industrial demand, mine supply concentrated in just two countries (South Africa and Russia), and shifting regulatory and technological trends.
This concentration of supply and demand makes platinum one of the most volatile precious metals.
The defining moment in platinum's price history was its all-time high above $2,200 per ounce in March 2008. This peak was fueled by surging European diesel vehicle adoption, severe electricity shortages from South Africa's Eskom utility that forced mine shutdowns, and strong speculative investment flows. Platinum commanded a substantial premium over gold at that time, a relationship that has since completely inverted.
The Volkswagen diesel emissions scandal in September 2015 marked a structural turning point for platinum demand. European governments accelerated bans on diesel vehicles and consumers shifted to gasoline and electric alternatives. Platinum's largest demand driver entered a long-term decline, pushing the metal into a persistent discount to gold that continues today.
South Africa has experienced dramatic supply disruptions throughout platinum's history, including the 2008 Eskom power crisis, the 2012 Marikana labor unrest, and recurring strikes. With roughly 70% of world supply originating from the Bushveld Complex, any disruption to South African mining operations has an outsized impact on global platinum availability and pricing.
Data provided by MetalCharts, a free precious metals tracking platform offering real-time prices, interactive charts, historical data, and portfolio tools for gold, silver, platinum, palladium, and copper. Prices sourced from major global exchanges including COMEX, LBMA, and LME, updated continuously during market hours.
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