Platinum Price in Euros Today

No, unlike investment gold, platinum is not exempt from VAT in the European Union. Most EU member states apply their standard VAT rate to physical platinum purchases, which ranges from 19% in Germany to 21% in countries like Belgium and the Netherlands. However, Germany offers a differential taxation scheme (Differenzbesteuerung) where VAT is calculated only on the dealer's margin rather than the full purchase price, significantly reducing the effective tax burden for buyers. Some investors opt for bonded warehouse storage outside the EU to defer VAT entirely.

The platinum price in euros is calculated by taking the international spot price in US dollars (XPT/USD) and dividing it by the current EUR/USD exchange rate. For example, if platinum is trading at $1,000 per ounce and the EUR/USD rate is 1.10, the euro price would be approximately 909 EUR per ounce. Both the platinum spot price and the EUR/USD exchange rate fluctuate continuously during market hours, meaning the euro price of platinum is affected by movements in both variables.

Europe's historically large diesel vehicle fleet made it the world's biggest consumer of platinum for autocatalysts. Platinum is the preferred catalyst in diesel catalytic converters for reducing harmful emissions like nitrogen oxides and particulate matter. European emissions regulations such as Euro 6 standards require catalytic converters on all diesel vehicles. However, the EU's accelerating shift away from diesel engines and toward electric vehicles is gradually reducing this source of demand, prompting the platinum industry to look toward hydrogen fuel cells as a replacement growth market.

Platinum demand in Europe is undergoing a structural shift. Traditional demand from diesel autocatalysts is declining as the EU transitions toward electric vehicles under its 2035 combustion engine ban. However, this decline is being partially offset by growing interest in platinum's role in hydrogen fuel cell technology, where it serves as a critical catalyst for proton exchange membrane (PEM) electrolyzers and fuel cells. The European Green Deal and national hydrogen strategies are driving significant investment in hydrogen infrastructure, which could create substantial new demand for platinum over the coming decade.