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Platinum Price in 2024

In 2024, the price of platinum averaged $985 per troy ounce, up 1.9% from the year before. This page covers the 2024 average, high, low, and year-end close, the events that moved the market, and what that platinum would be worth in today's dollars.

2024 Average

$985

LBMA annual average, USD/oz

Change vs 2023

+1.9%

from $967 in 2023

2024 High

$1,095

from daily trading data

2024 Low

$865

from daily trading data

Year-End Close

$896

last trading day of 2024

What happened to the platinum price in 2024

Platinum averaged $985 per troy ounce in 2024, essentially unchanged from $967 in 2023. Daily trading data shows platinum moved between a low of $865 and a high of $1,095 during the year, ending 2024 at $896. The notable development of 2024: Hydrogen deployments begin scaling.

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 2024 average of $985 equals about $1,012 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 2024?
Platinum averaged $985 per troy ounce in 2024, based on LBMA annual average data. Daily prices ranged from a low of $865 to a high of $1,095, and the year closed at $896. That average was up 1.9% from $967 in 2023.
What is a 2024 platinum price worth in today's dollars?
Adjusted with the US Consumer Price Index, platinum's 2024 average of $985 works out to roughly $1,012 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 2024?
The defining story of 2024: Hydrogen deployments begin scaling. Against that backdrop, the annual average climbed 1.9%, from $967 in 2023 to $985.

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.