Platinum Price in 1979

In 1979, the price of platinum averaged $445 per troy ounce, up 71.2% from the year before. This page covers the 1979 average, high, low, and year-end close, the events that moved the market, and what that platinum would be worth in today's dollars.

1979 Average

$445

LBMA annual average, USD/oz

Change vs 1978

+71.2%

from $260 in 1978

What happened to the platinum price in 1979

Platinum averaged $445 per troy ounce in 1979, surging 71.2% from the $260 average of 1978. Annual moves of that size are rare and put 1979 among the most explosive years in the metal's modern history. The defining story of 1979: Second oil crisis; catalytic converter regulations.

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 1979 average of $445 equals about $1,976 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 1979?

Platinum averaged $445 per troy ounce in 1979, based on LBMA annual average data. That average was up 71.2% from $260 in 1978.

What is a 1979 platinum price worth in today's dollars?

Adjusted with the US Consumer Price Index, platinum's 1979 average of $445 works out to roughly $1,976 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 1979?

The defining story of 1979: Second oil crisis; catalytic converter regulations. Against that backdrop, the annual average climbed 71.2%, from $260 in 1978 to $445.

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.