Platinum Prices

05-02-2026 - Over the past month, the price of Platinum on the NYMEX has fallen from $2,269.5 per ounce to $2,162.7 per ounce, indicating a downward trend in the raw material market. This decline may be attributed to shifts in supply-demand dynamics or broader economic factors impacting platinum's valuation. The forecast predicts a further decrease to $2,104.3 per ounce, a 2.7% drop from the current price, suggesting continued downward pressure and potential market volatility affecting raw material prices.

The current forecast highlights significant downward pressure on raw material prices, primarily driven by technical data, which has a negative impact of $79.3 per ounce. Although demand, flows, and supply data indicate upward pressure, the overall trend remains negative due to strong technical signals.

Contrasting this forecast, external analyses offer a different perspective. A report from Capital.com, referencing the World Platinum Investment Council (WPIC), suggests that the platinum market may approach balance by 2026, with a small surplus of around 20,000 ounces. This outlook depends on easing trade and tariff tensions, with total supply expected to recover modestly and industrial demand, particularly in chemicals and glass, returning to growth. This suggests a more stable or potentially bullish market, contrasting with the forecasted decline.