The price of platinum has updated a new maximum since the beginning of 2013

On Monday, platinum prices are steadily rising, breaking the $1,650 per troy ounce mark for the first time in more than 12 years. According to trading data, the growth was about 2%.

The October futures rose 1.83% to $1,610.9 per ounce, while the January contract, which accounts for the bulk of the transactions, added 2.07% to $1,636.7. At the same time, during trading, the quotes briefly reached $1,650, which was the highest since February 21, 2013.

The price increase is explained by the increased interest from the jewelry industry and investors looking for an alternative to gold after its rapid rise in price. 

An additional factor is the continuing shortage: the global platinum market has been experiencing metal shortages for the third year in a row, and production in 2025 will decrease to the lowest level in the last five years – about 7 million ounces.