Platinum Price in 1973

In 1973, the price of platinum averaged $150 per troy ounce, up 26.1% from the year before. This page covers the 1973 average, high, low, and year-end close, the events that moved the market, and what that platinum would be worth in today's dollars.

1973 Average

$150

LBMA annual average, USD/oz

Change vs 1972

+26.1%

from $119 in 1972

What happened to the platinum price in 1973

Platinum averaged $150 per troy ounce in 1973, climbing 26.1% from the $119 average of 1972. The notable development of 1973: Oil crisis; industrial demand grows.

Platinum spent the 1970s establishing itself as a freely traded precious metal. From about $112 an ounce in 1971 it was carried higher by the decade's two oil shocks, accelerating inflation, and the first wave of automotive catalytic-converter demand after US emissions rules took effect, reaching $445 by 1979.

Adjusted for inflation, platinum's 1973 average of $150 equals about $1,089 in today's dollars. The conversion uses US Bureau of Labor Statistics CPI-U annual averages, so treat it as a close approximation rather than an exact figure.

Frequently Asked Questions

What was the price of platinum in 1973?

Platinum averaged $150 per troy ounce in 1973, based on LBMA annual average data. That average was up 26.1% from $119 in 1972.

What is a 1973 platinum price worth in today's dollars?

Adjusted with the US Consumer Price Index, platinum's 1973 average of $150 works out to roughly $1,089 in today's dollars, using 2025 as the CPI base year. The conversion uses BLS CPI-U annual averages, so treat it as a close approximation rather than an exact figure.

What moved the platinum price in 1973?

The defining story of 1973: Oil crisis; industrial demand grows. Against that backdrop, the annual average climbed 26.1%, from $119 in 1972 to $150.

Annual averages are LBMA and Johnson Matthey platinum prices per troy ounce in US dollars. Where shown, the yearly high, low, and close come from MetalCharts daily historical data and may differ slightly from figures published elsewhere. Inflation adjustments use BLS CPI-U annual averages.