Platinum Price Today — Live Market Analysis
The platinum price today is determined in real time across global commodity markets. Quoted as XPT/USD, the spot price represents what buyers and sellers are paying right now for immediate delivery of one troy ounce of pure platinum (999.5 fine), settled in US Dollars. Primary price discovery occurs on COMEX in New York and through the London Platinum and Palladium Market (LPPM), which publishes twice-daily reference prices.
What is the platinum price right now?
The live chart above shows today's spot price sourced continuously from COMEX futures and the LPPM OTC market. Unlike gold — which trades predominantly as a monetary and safe-haven asset — platinum's daily price is anchored by industrial fundamentals, making it closely correlated with global manufacturing data, automotive output statistics, and emissions regulation updates. The chart refreshes tick-by-tick during trading hours; outside market hours it reflects the last available quote.
What drives today's platinum price?
- Diesel automotive demand: Platinum is the primary catalyst metal for diesel engine exhaust systems. European, US, and Asian diesel vehicle production data directly moves today's XPT/USD price.
- South African supply: South Africa produces ~70% of global platinum. Eskom power outages (load-shedding), mine safety shutdowns, and labour strikes create recurring supply disruptions that spike today's price.
- Hydrogen economy: Platinum is an irreplaceable catalyst in PEM fuel cells and electrolysers. Growing government investment in hydrogen infrastructure — particularly in the EU, UK, Japan, and South Korea — is a structural long-term demand driver.
- Palladium substitution: When palladium trades at a large premium over platinum, automakers switch to platinum in petrol catalytic converters. This cross-metal substitution creates demand surges that push today's price higher.
- Glass and chemical industry: Platinum is used in the production of glass fibres, LCD displays, and as a catalyst in nitric acid and fertiliser manufacturing — providing a non-automotive industrial demand floor.
- Investment demand: Physical platinum ETPs, BullionVault allocated accounts, and COMEX speculative positioning add a financial layer that can amplify today's price moves.
- US Dollar index (DXY): As with all USD-priced commodities, a strengthening dollar suppresses XPT/USD and vice versa.
Platinum price today vs. gold and palladium
Platinum is approximately 30 times rarer than gold yet currently trades at a significant discount to gold — a reversal of the historical norm where platinum commanded a premium. This inversion reflects platinum's dependence on diesel automotive demand (structurally declining in Europe) versus gold's resilient monetary and safe-haven buying. Platinum also trades at a premium to palladium, which has fallen sharply from its 2022 peak above $3,000/oz as EV adoption erodes palladium's gasoline catalytic converter demand. Use the related metals cards above to compare all four PGM prices in real time.
Platinum price today per gram
- Per troy ounce: The global standard — shown live in the chart above.
- Per gram: Divide today's USD/oz price by 31.1035. At $950/oz ≈ $30.54/g.
- Per kilogram: Multiply the gram price by 1,000. At $950/oz ≈ $30,540/kg.
Today's platinum price in other currencies
The XPT/USD spot price shown here is the global benchmark. Platinum prices in EUR, GBP, and other currencies are derived by converting the USD spot price at the current exchange rate. Use the currency cards above to view today's platinum price in euros or pounds, or toggle the chart currency selector directly in the widget above.