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Platinum Price in 2016

In 2016, the price of platinum averaged $987 per troy ounce, down 6.3% from the year before. This page covers the 2016 average, high, low, and year-end close, the events that moved the market, and what that platinum would be worth in today's dollars.

2016 Average

$987

LBMA annual average, USD/oz

Change vs 2015

-6.3%

from $1,053 in 2015

What happened to the platinum price in 2016

Platinum averaged $987 per troy ounce in 2016, down 6.3% from $1,053 the year before. The notable development of 2016: Diesel bans announced; demand falls.

The 2010s were a lost decade for platinum. A brief post-crisis recovery gave way to structural decline after Volkswagen's 2015 Dieselgate scandal accelerated Europe's move away from diesel, platinum's single largest source of demand, pushing the metal into a persistent discount to gold.

Adjusted for inflation, platinum's 2016 average of $987 equals about $1,325 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 2016?
Platinum averaged $987 per troy ounce in 2016, based on LBMA annual average data. That average was down 6.3% from $1,053 in 2015.
What is a 2016 platinum price worth in today's dollars?
Adjusted with the US Consumer Price Index, platinum's 2016 average of $987 works out to roughly $1,325 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 2016?
The defining story of 2016: Diesel bans announced; demand falls. Against that backdrop, the annual average fell 6.3%, from $1,053 in 2015 to $987.

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.