Introduction
In 2025, platinum has surpassed gold in terms of performance, with its price rising by 43.07%, compared to gold’s increase of 28.26%. This shift has led investors to seek new alternatives and hedges against the dollar, moving their investments towards platinum and silver.
Performance of Precious Metals
- Platinum: The price of platinum has soared to 1,302.65 USD per ounce, reflecting a significant 43.07% increase in 2025.
- Gold: Gold has experienced a 28.26% rise, currently trading at 3,387.40 USD per ounce.
- Silver: Silver is nearing gold’s performance, with a 24.37% increase and a price of 36.36 USD per ounce.
Base Metals Performance
Among base metals, copper leads with a 19.33% increase to 4,805 USD per metric tonne, followed by palladium with a 16.12% rise to 1,056.50 USD per ounce and lead with a 2.14% gain to 1,993.73 USD per tonne.
However, zinc has fallen by 11.20% to 2,645 USD, nickel has decreased by 1.89% to 15,003.38 USD, and aluminum has dropped by 0.95% to 2,527.25 USD per tonne.
Dollar’s Safe-Haven Status
The US dollar’s status as a safe haven is being challenged, with the DXY index falling 8.95% to 98.87 points in 2025.
Reasons for Platinum’s Outperformance
Analysts from Trading Economics attribute platinum’s upward trend to a significant supply deficit and increased investor confidence.
- Supply Deficit: A substantial supply shortage has contributed to platinum’s rising price.
- Investor Confidence: Investors are showing more trust in platinum as a relatively undervalued alternative to gold.
- Geopolitical Tensions: Escalating tensions in the Middle East have further boosted demand for safe-haven assets, including platinum and other precious metals.
- Industrial Demand: Growing demand from Asian markets, especially China and India, has driven physical consumption. Meanwhile, platinum’s critical role in automotive catalytic converters and the burgeoning hydrogen economy, with increasing fuel cell technology adoption, has further tightened global supply.
Expert Opinions
Janneth Quiroz, Director of Analysis at Monex Casa de Bolsa, explains that precious and industrial metals have shown mixed performance this year.
- Precious Metals: Gold and silver have advanced due to their status as safe-haven assets amid macroeconomic and geopolitical uncertainty.
- Industrial Metals: Cobre, steel, and aluminum have experienced a decline in performance due to lower global growth expectations caused by tariffs imposed by US President Donald Trump, reducing demand for industrial metals across various sectors.
Stock Performance of Platinum Producers
Companies producing platinum have seen their stock prices rise this year, driven by increased demand from the automotive industry and geopolitical tensions in the Middle East.
- Sibanye Stillwater: The global platinum and palladium producer from South Africa has seen a 108.81% increase.
- Northam Platinum: Another South African firm has experienced a 75.74% rise.
- Impala Platinum: This company has seen a 69.38% advance.
Conversely, Anglo American Platinum’s stock has fallen 12.94%.
Exchange-Traded Funds (ETFs)
Platinum-backed ETFs have also witnessed growth, with the WisdomTree Physical Platinum ETF rising 27.15% and the GraniteShares Platinum Trust ETF increasing by 45.16%.
