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Platinum Price in 2022

In 2022, the price of platinum averaged $963 per troy ounce, down 11.7% from the year before. This page covers the 2022 average, high, low, and year-end close, the events that moved the market, and what that platinum would be worth in today's dollars.

2022 Average

$963

LBMA annual average, USD/oz

Change vs 2021

-11.7%

from $1,090 in 2021

2022 High

$1,199

from daily trading data

2022 Low

$796

from daily trading data

Year-End Close

$1,081

last trading day of 2022

What happened to the platinum price in 2022

Platinum averaged $963 per troy ounce in 2022, down 11.7% from $1,090 the year before. Daily trading data shows platinum moved between a low of $796 and a high of $1,199 during the year, ending 2022 at $1,081. The notable development of 2022: Fed hikes; risk-off environment.

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 2022 average of $963 equals about $1,060 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 2022?
Platinum averaged $963 per troy ounce in 2022, based on LBMA annual average data. Daily prices ranged from a low of $796 to a high of $1,199, and the year closed at $1,081. That average was down 11.7% from $1,090 in 2021.
What is a 2022 platinum price worth in today's dollars?
Adjusted with the US Consumer Price Index, platinum's 2022 average of $963 works out to roughly $1,060 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 2022?
The defining story of 2022: Fed hikes; risk-off environment. Against that backdrop, the annual average fell 11.7%, from $1,090 in 2021 to $963.

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.