Platinum Price in 1983
In 1983, the price of platinum averaged $424 per troy ounce, up 29.7% from the year before. This page covers the 1983 average, high, low, and year-end close, the events that moved the market, and what that platinum would be worth in today's dollars.
1983 Average
$424
LBMA annual average, USD/oz
Change vs 1982
+29.7%
from $327 in 1982
What happened to the platinum price in 1983
Platinum averaged $424 per troy ounce in 1983, climbing 29.7% from the $327 average of 1982.
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 1983 average of $424 equals about $1,372 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 1983?
What is a 1983 platinum price worth in today's dollars?
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.