Platinum Price in 1980

In 1980, the price of platinum averaged $677 per troy ounce, up 52.1% from the year before. This page covers the 1980 average, high, low, and year-end close, the events that moved the market, and what that platinum would be worth in today's dollars.

1980 Average

$677

LBMA annual average, USD/oz

Change vs 1979

+52.1%

from $445 in 1979

What happened to the platinum price in 1980

Platinum averaged $677 per troy ounce in 1980, surging 52.1% from the $445 average of 1979. Annual moves of that size are rare and put 1980 among the most explosive years in the metal's modern history. The defining story of 1980: Inflation peak; investor demand.

The 1980s were volatile for platinum. The metal spiked with the broader 1980 precious-metals mania, then collapsed as recession gutted automotive demand, before recovering late in the decade on South African supply fears and steadily growing catalytic-converter use.

Adjusted for inflation, platinum's 1980 average of $677 equals about $2,648 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 1980?

Platinum averaged $677 per troy ounce in 1980, based on LBMA annual average data. That average was up 52.1% from $445 in 1979.

What is a 1980 platinum price worth in today's dollars?

Adjusted with the US Consumer Price Index, platinum's 1980 average of $677 works out to roughly $2,648 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 1980?

The defining story of 1980: Inflation peak; investor demand. Against that backdrop, the annual average climbed 52.1%, from $445 in 1979 to $677.

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.