Platinum Price in 2008

In 2008, the price of platinum averaged $1,572 per troy ounce, up 20.6% from the year before. This page covers the 2008 average, high, low, and year-end close, the events that moved the market, and what that platinum would be worth in today's dollars.

2008 Average

$1,572

LBMA annual average, USD/oz

Change vs 2007

+20.6%

from $1,303 in 2007

2008 High

$2,302

from daily trading data

2008 Low

$748

from daily trading data

Year-End Close

$906

last trading day of 2008

What happened to the platinum price in 2008

Platinum averaged $1,572 per troy ounce in 2008, climbing 20.6% from the $1,303 average of 2007. Daily trading data shows platinum moved between a low of $748 and a high of $2,302 during the year, ending 2008 at $906. The notable development of 2008: ATH at $2,290 in March; crashes to $750.

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 2008 average of $1,572 equals about $2,353 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 2008?

Platinum averaged $1,572 per troy ounce in 2008, based on LBMA annual average data. Daily prices ranged from a low of $748 to a high of $2,302, and the year closed at $906. That average was up 20.6% from $1,303 in 2007.

What is a 2008 platinum price worth in today's dollars?

Adjusted with the US Consumer Price Index, platinum's 2008 average of $1,572 works out to roughly $2,353 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 2008?

The defining story of 2008: ATH at $2,290 in March; crashes to $750. Against that backdrop, the annual average climbed 20.6%, from $1,303 in 2007 to $1,572.

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.