Platinum Price in 1998

In 1998, the price of platinum averaged $372 per troy ounce, down 5.8% from the year before. This page covers the 1998 average, high, low, and year-end close, the events that moved the market, and what that platinum would be worth in today's dollars.

1998 Average

$372

LBMA annual average, USD/oz

Change vs 1997

-5.8%

from $395 in 1997

What happened to the platinum price in 1998

Platinum averaged $372 per troy ounce in 1998, down 5.8% from $395 the year before. The notable development of 1998: Russian supply disruptions.

The 1990s were largely range-bound. Heavy Russian platinum-group sales, the 1997-98 Asian crisis, and subdued investment demand kept platinum mostly between $350 and $430, even as diesel-catalyst demand in Europe began to build.

Adjusted for inflation, platinum's 1998 average of $372 equals about $736 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 1998?

Platinum averaged $372 per troy ounce in 1998, based on LBMA annual average data. That average was down 5.8% from $395 in 1997.

What is a 1998 platinum price worth in today's dollars?

Adjusted with the US Consumer Price Index, platinum's 1998 average of $372 works out to roughly $736 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 1998?

The defining story of 1998: Russian supply disruptions. Against that backdrop, the annual average fell 5.8%, from $395 in 1997 to $372.

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.