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Platinum Price in 2020

In 2020, the price of platinum averaged $883 per troy ounce, up 2.4% from the year before. This page covers the 2020 average, high, low, and year-end close, the events that moved the market, and what that platinum would be worth in today's dollars.

2020 Average

$883

LBMA annual average, USD/oz

Change vs 2019

+2.4%

from $862 in 2019

What happened to the platinum price in 2020

Platinum averaged $883 per troy ounce in 2020, up 2.4% from $862 the year before. The notable development of 2020: COVID crash to $600; strong recovery.

The 2020s reversed platinum's fortunes. After a COVID crash to about $600, a multi-year supply deficit, a lease-rate squeeze, hydrogen-economy optimism, and a wave of Chinese investment demand carried platinum to a new all-time high near $2,920 an ounce in January 2026.

Adjusted for inflation, platinum's 2020 average of $883 equals about $1,100 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 2020?
Platinum averaged $883 per troy ounce in 2020, based on LBMA annual average data. That average was up 2.4% from $862 in 2019.
What is a 2020 platinum price worth in today's dollars?
Adjusted with the US Consumer Price Index, platinum's 2020 average of $883 works out to roughly $1,100 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 2020?
The defining story of 2020: COVID crash to $600; strong recovery. Against that backdrop, the annual average climbed 2.4%, from $862 in 2019 to $883.

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.