Platinum Price in 1989
In 1989, the price of platinum averaged $507 per troy ounce, down 2.9% from the year before. This page covers the 1989 average, high, low, and year-end close, the events that moved the market, and what that platinum would be worth in today's dollars.
1989 Average
$507
LBMA annual average, USD/oz
Change vs 1988
-2.9%
from $522 in 1988
What happened to the platinum price in 1989
Platinum averaged $507 per troy ounce in 1989, down 2.9% from $522 the year before.
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 1989 average of $507 equals about $1,318 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 1989?
What is a 1989 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.