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Platinum Price in 2021

In 2021, the price of platinum averaged $1,090 per troy ounce, up 23.4% from the year before. This page covers the 2021 average, high, low, and year-end close, the events that moved the market, and what that platinum would be worth in today's dollars.

2021 Average

$1,090

LBMA annual average, USD/oz

Change vs 2020

+23.4%

from $883 in 2020

2021 High

$1,339

from daily trading data

2021 Low

$885

from daily trading data

Year-End Close

$968

last trading day of 2021

What happened to the platinum price in 2021

Platinum averaged $1,090 per troy ounce in 2021, climbing 23.4% from the $883 average of 2020. Daily trading data shows platinum moved between a low of $885 and a high of $1,339 during the year, ending 2021 at $968. The notable development of 2021: Hydrogen economy hype; supply deficits.

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 2021 average of $1,090 equals about $1,296 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 2021?
Platinum averaged $1,090 per troy ounce in 2021, based on LBMA annual average data. Daily prices ranged from a low of $885 to a high of $1,339, and the year closed at $968. That average was up 23.4% from $883 in 2020.
What is a 2021 platinum price worth in today's dollars?
Adjusted with the US Consumer Price Index, platinum's 2021 average of $1,090 works out to roughly $1,296 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 2021?
The defining story of 2021: Hydrogen economy hype; supply deficits. Against that backdrop, the annual average climbed 23.4%, from $883 in 2020 to $1,090.

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.