Platinum Price in 1974

In 1974, the price of platinum averaged $175 per troy ounce, up 16.7% from the year before. This page covers the 1974 average, high, low, and year-end close, the events that moved the market, and what that platinum would be worth in today's dollars.

1974 Average

$175

LBMA annual average, USD/oz

Change vs 1973

+16.7%

from $150 in 1973

What happened to the platinum price in 1974

Platinum averaged $175 per troy ounce in 1974, climbing 16.7% from the $150 average of 1973.

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 1974 average of $175 equals about $1,144 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 1974?

Platinum averaged $175 per troy ounce in 1974, based on LBMA annual average data. That average was up 16.7% from $150 in 1973.

What is a 1974 platinum price worth in today's dollars?

Adjusted with the US Consumer Price Index, platinum's 1974 average of $175 works out to roughly $1,144 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.

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.