Platinum Price Predictions for 2024, 2025-2026 and Beyond

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Platinum, with its distinguished properties and applications, stands out in the precious metals market. A striking example of its essential use is in the healthcare sector, where platinum is the only material suitable for the electrodes in the 600,000 heart pacemakers implanted annually. This metal’s scarcity, coupled with its essential role in various industry sectors, underpins its intrinsic value and market volatility.

This article delves into the platinum price forecasts, offering predictions for 2024 and beyond. Understanding the market dynamics and trends is crucial for investors and industry stakeholders, as it assists in making informed decisions in a landscape shaped by technological advancements and regulatory changes. Our forecast aims to provide a comprehensive analysis of the factors that could influence platinum’s trajectory as well as various expert opinions about its future price movements, highlighting the importance of staying ahead in a rapidly evolving market.

The article covers the following subjects:

Main takeaways: Platinum Forecast 2024–2030

Recovery and Expansion. Analysts foresee platinum stabilizing around $1,000/oz after 2024, setting the stage for a gradual climb towards the range of $1,200 to $1,400/oz over the next 5 to 7 years. This upward trajectory will be propelled by increased demand in the industrial and jewelry sectors, along with heightened investor interest.

Emissions Regulations. The global shift towards stricter emissions regulations is steering demand away from palladium and towards platinum for catalytic converters, creating a favorable environment for sustained long-term demand.

Despite potential market fluctuations, analysts maintain a bullish outlook on platinum’s prospects through 2030, anticipating a continued ascent in its price levels, reflecting its enduring value and significance in various industries.

Platinum Price Today Coming Days and Week

Today, platinum is traded at $897.05. You can refer to this article to see the platinum price tomorrow. The recent forecasts indicate a positive short-term trend for platinum prices​. Keep in mind that precious metal prices can be volatile, and it’s important to stay informed with the latest market news and trends.

Platinum Price Forecast for 2024 by Experts

Analysts do not have a very encouraging forecast for 2024. This may be due to a price correction before reaching new highs.

1. LongForecast’s Opinion

Longforecast sees platinum prices averaging around $870 in Q1 2024, which is a little bit lower than the price at the very beginning of 2024.

2. GovCapital‘s Opinion

GovCapital forecasts platinum trading at $800/oz by the mid-year of 2024 if economic conditions stabilize.

3. WalletInvestor‘s Opinion for the Future

WalletInvestor estimates platinum’s price trending towards $1000/oz in Q1 2024, assuming industrial usage rebounds.

Platinum Long-Term Technical Analysis

To determine platinum’s short- and long-term price trends, we will use MACD, RSI, the volume indicator OBV, and the combination of VWAP and SMA. These instruments will help us identify the current market phase, the key sell and buy areas, the trend’s strength, and possible pivot points. H4, D1, W1, and MN are the most convenient time frames for our task.

Besides, we will use technical and candlestick analysis to identify liquid support/resistance levels in the price chart and the most advantageous entry/exit points.

Double Top, Bull and Bear flags (Pennant), and varieties of the Triangle pattern are the most frequent patterns in the XPTUSD chart. The most popular candlestick patterns include varieties of the Star pattern: Hammer, Inverted Hammer, and Engulfing.

We’ll analyze the monthly time frame chart to objectively estimate the current market state and market participants’ sentiment.

The price has been moving within a sideways channel of 717.54-1319.99 in the monthly XPTUSD chart since November 2015. The asset is currently trading at around $897.05.

A few bullish reversal candlestick patterns are forming: Morning Star, Inverted Hammer, and Bullish Engulfing, at the levels of 717.54-936.13. The Doji pattern points to market participants’ indecision.

The MACD indicator is moving horizontally in the negative zone. The RSI is horizontal and doesn’t produce clear sell or buy signals. The tick volumes are decreasing, while the volume indicator OBV is directed sideways, not signaling any momentum. Meanwhile, the price remains in the narrow range of 842.37-1141.04. The quotes are trading below VWAP and SMA 20 weighted average value, indicating bear pressure.

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XPTUSD Platinum Forecast For Next Three Months

To make a forecast for XPTUSD price, let’s analyze the H4 and D1 charts.

A large price pattern, Head and shoulders, is forming in the H4 chart. The quotes have rebounded from the neckline (support) at 872.97. Still, the asset continues trading in a downtrend.

The MACD values are declining in the positive zone. The RSI shows a Bullish divergence. The OBV indicator shows decreasing trading volumes. The price is above the VWAP and SMA 20 indicators, presumably signaling a potential XPTUSD reversal to the upside.

The Head and Shoulders pattern can be seen more clearly in the daily chart. The price rebounded from the neckline and broke through the trend resistance line in a momentum move. The quotes are currently located below resistance at 903.65. The bulls failed to consolidate above that level, and the price formed a down gap.

However, the chart developed the Piercing Line reversal candlestick pattern, pointing out the buyer’s growing pressure. The OBV trading volumes are low and directed sideways, which may indicate the asset’s accumulation.

The RSI formed a bullish divergence. The MACD indicator shows a Hidden Bullish divergence, signaling bears’ gradual weakening and growing bullish strength. Besides, the price values stabilized above the VWAP and SMA 20 lines, pointing out bullish momentum.

We can buy the asset with a target of around 917.39-966.40 in the next three months once the price has stabilized above the key resistance at 903.65. If the downtrend continues and the price breaks through the level of 886.70 in a momentum move, a fall may continue to 872.97-845.94.

Platinum long-term technical forecast for 2024

Let’s proceed with our long-term platinum price forecast and have a look at the weekly time frame.

We can see a huge Symmetrical triangle pattern forming here. The price can exit in either direction, up or down. Also, the quotes formed the Inverted Hammer and Hammer reversal patterns on the key support at 845.94.

The MACD hasn’t given any clear signals: its values hover in the negative zone near the zero boundary. The RSI values don’t produce clear buy or sell signals either and are located at around 48. On the contrary, the OBV values grow as long as the symmetrical triangle unfolds.

The asset price is above the VWAP weighted average price but slightly below the SMA 20. The table below is based on the above analysis and provides the asset’s minimum and maximum values for each month of 2024.

Month

XPTUSD price

Minimum

Maximum

March 2024 909.22 966.68
April 2024 926.12 976.82
April 2024 926.12 976.82
May 2024 980.20 1030.90
June 2024 966.68 1024.14
July 2024 1014.00 1088.36
August 2024 1149.19

1162.71

September 2024 1003.86 1074.84
October 2024 980.20 1051.18
November 2024 1051.18 1193.13
December 2024 1142.43 1250.59

Platinum Long-Term Trading Plan

There’s still much uncertainty around this asset, but there are more prerequisites for growth than for a decline in 2024.

Trading plan for the next three months

The analysis we conducted allows us to make the following conclusions:

  • the XPTUSD’s daily chart signals the beginning of a bullish trend. To confirm it, the price must consolidate above the trend and the horizontal resistance line at 903.65. If it does, the targets at around 917.39-966.40 could also be reached soon.

  • an alternative scenario could play out if the buyer fails to hold to the key support at 886.70. In that situation, the price may fall to 845.94 and lower.

  • the current key support levels are 886.70, 872.97, 857.85, and 845.94;

  • the key resistance is at 903.65, 917.39, 932.96, 943.50, and 966.40.

Trading plan for 2024

Based on the technical analysis above, we can make the following plan for 2024:

  • to confirm a further trend, the asset’s quotes must consolidate above 966.40 (bullish trend) or below 845.94 (bearish trend). Still, more growth than decline signals are expected during the year 2024.

  • the key support levels in 2024 are 845.94, 717.54, 564.46, and 403.03;

  • the key resistance levels are 966.40, 1141.04, 1319.99, and 1546.65.

 

Platinum price predictions for 2025

Anticipations for 2025 paint an optimistic picture for platinum, as analysts foresee a robust rebound in its price driven by a convergence of factors. This resurgence is expected to be fueled by a surge in industrial and investment demand, compounded by supply constraints and the growing adoption of catalytic converters. Projections hint at a price spectrum spanning from $900 to $1,320 per ounce, potentially surpassing the current levels below the $1,000 mark.

Predictions for the Future from Gov Capital

Gov Capital’s projection for platinum prices in 2025 is expected to range from $800 to $1,400 per ounce, with several key factors influencing this forecast.

Overall, while there may be some volatility in 2025, platinum is anticipated to reach new multi-year highs.

Predictions for the Future from WalletInvestor

WalletInvestor forecasts platinum prices in 2025 to range between $900 and $1,010 per ounce.

Predictions for the Future from WalletInvestor

Month Minimum Price, $ Maximum Price, $ Average Price, $
January 937.635  989.688 963
February 991.111 1013.373 1002
March 981.818 1007.435 994
April 995.305 1017.691 1006
May 1000.935 1011.548 1005.5
June 967.654 1000.114 983.5
July 963.605 972.750 967
August 952.970  968.194 960
September 915.029 961.674 938
October 908.439 919.526 912.5
November 916.513 920.828 918
December 910.467 941.309 925.5

Platinum price predictions for 2026

As for 2026, analysts are painting a distinct and promising picture for the platinum market. The consensus projects average platinum prices to hover from $950 to $1,700 for 2026, signaling a remarkable appreciation from current levels.

Predictions for the Future from Gov Capital

Gov Capital projects average prices of $1,000 – $1,700 per ounce for platinum in 2026. Platinum is a rare precious metal poised to see growing demand from clean energy technologies, which could drive prices higher. Specifically, platinum is essential for hydrogen fuel cells and electrolyzers for green hydrogen production.

Predictions for the Future from WalletInvestor

WalletInvestor forecasts platinum prices averaging $950–$1,025 per ounce in 2026. With over 50% of platinum demand coming from industrial uses, this emerging source of demand could tighten supply and send prices upward.

Month Minimum Price, $ Maximum Price, $ Average Price, $
January 945.229  996.833 970
February 997.866 1,021.897 1,009
March 989.691  1,016.945 1,002.5
April 1,003.770 1,025.130 1014
May 1,009.387 1,016.982 1,013.5
June 975.175 1,008.758 991.5
July 971.018  980.153 997.5
August 960.492 975.635 967.5
September 924.354  969.266 946.5
October 916.002 927.255 921.5
November 924.355 928.805 926
December 918.595 948.924 938

Source: Longforecast.com 

Platinum Price Transformations

Platinum prices have experienced high volatility in recent years. In 2020, prices dropped to $600/oz during pandemic-driven selling before recovering to the $950-$1,000 range. While lower year-over-year, platinum’s decline to multi-year lows rekindled investor interest, with ETF holdings surging.

In 2021, platinum prices steadily climbed back above $1,000, briefly spiking above $1,300/oz in February 2021 on supply concerns before settling around $1,100 for much of 2021. Demand trends were mixed, with industrial usage hampered by COVID-19 while investment and jewelry demand in China recovered.

In 2022, platinum’s potential role in clean energy solutions became a focus. But prices remained in the range between $900 and $1,100 for most of 2022 as the economic slowdown weighed on industrial demand.

In 2023, platinum prices have shown renewed momentum, rallying above $1,200/oz recently on improving economic outlook. With the global transition to green hydrogen generation gaining steam, analysts predict substantially higher platinum demand as a critical component in electrolyzers and fuel cells. Platinum’s undervalued status could vanish if decarbonization accelerates under climate change policies.

Though risks like recession exist, platinum rallying back to $1,300+ on tighter supplies and surging clean energy usage appears increasingly viable in the next few years as fossil fuel applications decline.

Long-Term Platinum Predictions 2026–2030

Gov Capital maintains a bullish multi-year outlook on platinum. According to their predictions, its price could hit over $3,000 by 2030.

WalletInvestor also remains bullish on platinum’s outlook based on increasing substitution for palladium and platinum pivotal role in green technologies. WalletInvestor’s analysts predict that platinum will start 2026 from $945 per ounce and will increase to 

$980 by 2029.

Year

Mid-Year

Year-End

Tod/End,%

2026 $1,052 $1,072 $1,062
2027 $1,099 $1,223 $1,112
2028 $1,257 $1,327 $1,297
2029 $1,387 $1,432 $1,409
2030 $1,520 $1,523 $1,521.5

Source: Coinpriceforecast

Factors that Can Affect the Platinum Price

Platinum is a rare precious metal, with over 50% of demand from industrial uses like auto catalysts. Key factors influencing platinum’s price outlook include:

  • Declining diesel car sales reduced catalyst demand after the emissions scandal, weighing on prices.

  • Trade disputes hampering industrial activity and platinum consumption.

  • Potential surge in hydrogen vehicle adoption boosting platinum catalyst requirements and prices.

  • Supply risks if unprofitable South African mines close, supporting prices.

  • Scarcity versus gold, with platinum potentially rebounding long-term as exhaustible resources dwindle.

Platinum’s heavy industrial utilization and concentration of mining supply in South Africa subject it to unique drivers compared to gold. However, platinum’s rarity and pivotal emerging role in clean technologies like hydrogen energy offer significant upside potential despite near-term headwinds. The metal’s price outlook remains murky but brightening.

Conclusion: Is Platinum a Good Investment?

In summary, platinum’s future appears to be promising. Analysts foresee a multi-year rebound driven by industrial and jewelry demand, investor interest, and potential supply constraints. Its pivotal role in emissions reduction and eco-friendly credentials add to its appeal.

As an inflation hedge and diversification option, platinum shines bright. While short-term risks persist, its long-term prospects remain bullish. For those considering investment diversification or a hedge against economic uncertainties, platinum merits serious consideration, with due diligence and expert advice.

 

 

Source: Macrotrends.net

Platinum Price Forecast FAQs

Price chart of XPTUSD in real time mode

The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteFinance. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.

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