Platinum price predictions are inherently uncertain and depend on multiple evolving factors, including industrial demand, investor sentiment, mining supply, macroeconomic conditions, and geopolitical dynamics. However, here is a reasoned forecast based on current trends and expert analyses as of mid-2025.
Current Situation (June 2025):
Spot Price (approx.): USD $1,015–$1,040/oz
Key Pressures:
Ongoing surplus from South African production recovery
Slower-than-expected demand rebound from China
Platinum struggling to benefit from the same safe-haven demand as gold and silver
6-Month Forecast (December 2025):
Estimated Range: USD $1,080 – $1,150/oz
Rationale:
Industrial Demand Recovery: Especially in automotive (hydrogen fuel cells and hybrid vehicles), which could gain momentum into year-end.
Geopolitical Risk: If global instability continues, there may be secondary spill-over investment interest in platinum.
Supply Tightness Possible: If power issues or labour disputes return in South African mines.
USD Weakness: Could add upward momentum if the Fed cuts rates further or inflation picks up.
12-Month Forecast (June 2026):
Estimated Range: USD $1,150 – $1,300/oz
Rationale:
Hydrogen Economy Growth: Increased investment in hydrogen technologies could push long-term platinum demand significantly.
Global Auto Demand Recovery: Particularly if EV growth includes PHEVs and fuel cell electric vehicles (FCEVs) using platinum-based catalysts.
Investment Demand: As gold and silver may peak or slow, investors could rotate into undervalued precious metals like platinum.
Risks to the Outlook:
Continued Surplus: If recycling supply and primary production outpace demand.
Weak Automotive Sales: Especially in China or Europe, key markets for platinum-based catalysts.
Delayed Green Tech Transition: Slower uptake of hydrogen fuel cell infrastructure.
Platinum has long-term bullish potential but remains a volatile metal. Over the next 6–12 months, modest gains seem likely, with the potential for stronger upward movement in 2026 if the hydrogen economy narrative gains traction and industrial demand picks up.
