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BRENT CRUDE$82.45+1.2%WTI CRUDE$78.14+1.5%GOLD SPOT$2,342.10+0.4%SILVER$28.15-0.1%COPPER HG$4.52-0.2%URANIUM U3O8$92.00+2.8%LITHIUM CARB$13,400-4.1%WHEAT ZW$562.25+0.1%NATURAL GAS$2.85+3.2%ALUMINUM$2,340+0.6%NICKEL$17,200-1.8%COCOA$7,850+5.4%BRENT CRUDE$82.45+1.2%WTI CRUDE$78.14+1.5%GOLD SPOT$2,342.10+0.4%SILVER$28.15-0.1%COPPER HG$4.52-0.2%URANIUM U3O8$92.00+2.8%LITHIUM CARB$13,400-4.1%WHEAT ZW$562.25+0.1%NATURAL GAS$2.85+3.2%ALUMINUM$2,340+0.6%NICKEL$17,200-1.8%COCOA$7,850+5.4%
Intelligence Engine
Precious Metals · XPT · USD / oz

Platinum

Platinum trades at a historic discount to gold despite a third consecutive year of supply deficit. South African producer profitability stress is forcing capacity rationalization while hydrogen economy adoption represents a credible long-term call option.

Spot
$945
Δ 24h
+0.6%
Realized Vol
21.3%
Cycle Phase
Accumulation
Price Timeline · 10Y

Interactive History

Hover · Click events
20152016201720182019202020212022202320242025
Annotated Macro Events
2020COVID Auto ShutdownCatalyst demand crashes.
2023WPIC Deficit ConfirmationMulti-year structural shortfall acknowledged.
2024Anglo American RestructuringPGM portfolio rationalization signals supply discipline.
Cycle Phase Breakdown

Where Platinum Sits in Its Supercycle

50%
20%
15%

Accumulation

50%

Current — bombed sentiment, structural deficit, producer stress.

Early Bull

20%

Substitution + recognition.

Expansion

15%

Hydrogen demand realization.

Peak Euphoria

10%

Tail.

Distribution

5%

EV displacement risk.

Supply & Demand
  • Market Balance-476 koz
  • Above-Ground Stocks3.4 Moz
  • Auto Demand3.2 Moz
Cross-Asset Correlation
  • Palladium
    0.61
  • Gold
    0.42
  • Auto SAAR
    0.38
Exposure Vehicles
  • PPLT
    abrdn Physical Platinum Shares
  • PLTM
    GraniteShares Platinum Trust
View Full Tracker →
Related in Precious Metals

Gold Spot

+0.4%
$2,342.10
Expansion

Silver

-0.1%
$28.15
Expansion