Price of Platinum today
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Platinum (XPT/USD) quote in real time. Interactive chart, historical data and market context.
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XPT/USD · Troy Ounce
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About Platinum
Platinum is a rare precious metal with a strong industrial component. It is primarily used in automotive catalytic converters, jewellery, medical equipment and the chemical industry. Its price is strongly linked to the automotive industry and South African supply.
Key facts
- South Africa produces approximately 70% of the world's platinum, making its price sensitive to geopolitical events in the region.
- Platinum is 30 times rarer than gold in the Earth's crust.
- The automotive industry consumes about 40% of platinum demand for catalytic converters.
- Historically, platinum traded above gold. The inversion of this ratio (platinum cheaper than gold) is a relatively recent phenomenon.
Legal notice
Indicative information, may contain errors, omissions or delays. Does not constitute financial advice or guarantee of accuracy.
Frequently asked questions about Platinum
Why is platinum cheaper than gold?
Since 2015, lower automotive demand (diesel decline) and the rise of gold ETFs have inverted the historical relationship. Many analysts still consider platinum undervalued.
How does South Africa affect the platinum price?
South Africa produces 70% of the world's platinum. Power cuts, mining strikes or political instability can reduce supply and spike the price.