Commodities
Platinum price chart
Platinum is a rare precious metal used mainly in autocatalysts for diesel and hybrid vehicles, plus jewellery and industrial catalysis. This chart tracks its US dollar price per troy ounce.
The price shown is a CFD (contract for difference) that tracks the international spot platinum market, not physical bullion or a futures position - a derivative built to follow the underlying price.
Platinum chart
OANDA:XPTUSDCFD on platinum (US$ per troy ounce).
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At a glance
| Full name | Platinum (spot) |
|---|---|
| Common ticker | XPT/USD |
| TradingView symbol | OANDA:XPTUSD |
| Instrument type shown | CFD on spot platinum |
| Underlying market / benchmark | LBMA Platinum Price, administered on behalf of the London Platinum and Palladium Market (LPPM); NYMEX also lists platinum futures |
| Quotation unit | US dollars per troy ounce |
| Market schedule | Trades close to 24 hours a day, five days a week, with a short daily break; the LBMA benchmark auction runs once a day |
| Spot vs futures vs CFD | The CFD tracks spot platinum; NYMEX platinum futures trade separately in fixed delivery months |
| Contract month / rollover | Not applicable to this spot-tracking CFD; a futures-based platinum chart would show periodic rollover |
| Data delay | Real-time streaming price; not an official benchmark fixing print |
What is Platinum?
Platinum is one of the rarest traded precious metals, with mine production concentrated overwhelmingly in South Africa, alongside Russia and Zimbabwe. It's a member of the platinum group metals (PGMs), which also include palladium and rhodium, often mined together from the same ore bodies.
The main benchmark, the LBMA Platinum Price, is set through a daily electronic auction administered for the London Platinum and Palladium Market. Platinum's largest use is in autocatalysts that reduce vehicle emissions, particularly for diesel engines, alongside jewellery and growing use in hydrogen fuel cell technology.
How to read this chart
Rising platinum prices can reflect stronger autocatalyst demand, South African supply disruptions (including power shortages affecting mining and refining), or investment buying. Falling prices can reflect softer vehicle production, especially diesel, or substitution toward other metals.
Platinum can trade at a premium or discount to palladium depending on relative supply and the diesel-versus-petrol vehicle mix, since the two metals are partial substitutes in autocatalyst manufacturing - a distinctive feature of this market.
As with gold and silver, spot and futures platinum prices can differ due to financing and storage costs and the convenience yield of holding physical metal (contango and backwardation), and the metal is quoted in US dollars per troy ounce.
What moves it?
- Autocatalyst demand and diesel share
- Platinum's largest end use is in catalytic converters, especially for diesel vehicles; the diesel share of the vehicle fleet in Europe and elsewhere is a key demand driver.
- South African supply and power constraints
- With mine production concentrated in South Africa, disruptions from labour action, safety stoppages, or electricity supply shortages (load-shedding) affecting mines and refineries can tighten global supply significantly.
- Substitution with palladium
- Automakers can adjust the platinum-to-palladium ratio used in autocatalysts depending on relative prices, so a sustained price gap between the two can shift demand between them over time.
- Investment and jewellery demand
- Platinum jewellery demand, particularly in China and Japan, and investment demand via bars, coins and exchange-traded products add a further layer of price sensitivity beyond industrial use.
Why people watch it
Automotive manufacturers, catalytic converter producers and recyclers track this price for input costing, hedging and recycling economics (platinum group metals are recovered from scrapped converters).
Because supply is so geographically concentrated, businesses exposed to platinum also monitor South African operating conditions as a distinct, structural risk factor separate from demand trends.
Platinum vs gold
Platinum and gold are both precious metals traded as investments, but platinum is far more exposed to industrial and automotive demand, particularly autocatalysts, and its supply is heavily concentrated in South Africa, unlike gold's more geographically diverse production.
That makes platinum's price behaviour less purely macro-driven than gold's, and more sensitive to vehicle production trends, the diesel share of the fleet, and South African mining and power conditions.
Frequently asked questions
Why is platinum supply so concentrated?
Most platinum is mined in South Africa, with additional output from Russia and Zimbabwe, making the market unusually exposed to conditions in a small number of producing countries.
What is platinum mainly used for?
Its largest use is in autocatalysts that reduce vehicle emissions, particularly for diesel engines, alongside jewellery and growing use in hydrogen fuel cell and industrial catalysis applications.
Why does platinum sometimes trade below palladium?
Relative supply, demand from automakers who can substitute between the two metals in catalytic converters, and shifts in the diesel-versus-petrol vehicle mix all affect the platinum-palladium spread.
Does the chart show physical platinum ownership?
No. It's a CFD tracking the spot market price; it doesn't represent ownership of physical metal.
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Sources
Written and maintained by the StandardsDesk editorial team. Last reviewed 2026-08-06. The text here is deliberately evergreen: it is not rewritten every time the market moves, and no price or level is quoted anywhere outside the chart itself.
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