Platinum prices averaged USD 1,898 per troy ounce in December, up 21.4% from November. On 31 December, the commodity traded at USD 2,027 per troy ounce, up 23.6% from 28 November.
Average platinum prices rose sharply in December, reaching an all-time high near month-end. Overall in 2025, prices rose over 120%. December’s rally was propelled by USD weakness, expectations of further Fed monetary easing and strong safe-haven demand tied to escalating U.S.-Venezuela tensions. Supply tightness due to disruptions in South Africa plus the EU’s mid-month announcement that it will scrap its combustion engine ban added fuel to the rally—platinum is key for combustion engine vehicles.
This chart displays Platinum (US$/toz) from 2024 to 2025.
Platinum LME (prices in US$/toz, aop)
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Platinum LME | - | - | - | - | 911 | 980 | 964 | 966 | 968 | 1,070 | 1,386 | 1,699 |