Platinum Price in 2003

In 2003, the price of platinum averaged $691 per troy ounce, up 28.2% from the year before. This page covers the 2003 average, high, low, and year-end close, the events that moved the market, and what that platinum would be worth in today's dollars.

2003 Average

$691

LBMA annual average, USD/oz

Change vs 2002

+28.2%

from $539 in 2002

What happened to the platinum price in 2003

Platinum averaged $691 per troy ounce in 2003, climbing 28.2% from the $539 average of 2002. The notable development of 2003: Diesel demand surges.

The 2000s were platinum's greatest bull market. Surging European diesel adoption, chronic South African supply problems including the 2008 Eskom power crisis, and heavy speculative buying drove platinum to a record near $2,290 an ounce in March 2008 before the financial crisis crashed it to about $750.

Adjusted for inflation, platinum's 2003 average of $691 equals about $1,210 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 2003?

Platinum averaged $691 per troy ounce in 2003, based on LBMA annual average data. That average was up 28.2% from $539 in 2002.

What is a 2003 platinum price worth in today's dollars?

Adjusted with the US Consumer Price Index, platinum's 2003 average of $691 works out to roughly $1,210 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 2003?

The defining story of 2003: Diesel demand surges. Against that backdrop, the annual average climbed 28.2%, from $539 in 2002 to $691.

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.