Platinum Price in 1978
In 1978, the price of platinum averaged $260 per troy ounce, up 64.6% from the year before. This page covers the 1978 average, high, low, and year-end close, the events that moved the market, and what that platinum would be worth in today's dollars.
1978 Average
$260
LBMA annual average, USD/oz
Change vs 1977
+64.6%
from $158 in 1977
What happened to the platinum price in 1978
Platinum averaged $260 per troy ounce in 1978, surging 64.6% from the $158 average of 1977. Annual moves of that size are rare and put 1978 among the most explosive years in the metal's modern history. The defining story of 1978: Auto catalyst demand emerges.
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 1978 average of $260 equals about $1,285 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 1978?
What is a 1978 platinum price worth in today's dollars?
What moved the platinum price in 1978?
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.