Platinum Price in 2004

In 2004, the price of platinum averaged $846 per troy ounce, up 22.4% from the year before. This page covers the 2004 average, high, low, and year-end close, the events that moved the market, and what that platinum would be worth in today's dollars.

2004 Average

$846

LBMA annual average, USD/oz

Change vs 2003

+22.4%

from $691 in 2003

What happened to the platinum price in 2004

Platinum averaged $846 per troy ounce in 2004, climbing 22.4% from the $691 average of 2003.

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 2004 average of $846 equals about $1,443 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 2004?

Platinum averaged $846 per troy ounce in 2004, based on LBMA annual average data. That average was up 22.4% from $691 in 2003.

What is a 2004 platinum price worth in today's dollars?

Adjusted with the US Consumer Price Index, platinum's 2004 average of $846 works out to roughly $1,443 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.

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.