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Platinum crucibles. Picture credit: Johnson Matthey

World Platinum Investment Council – WPIC®

Growing perfection

Platinum‑based equipment is critical for producing large, flawless crystals for electronics and optics applications

 

Read WPIC® 60 Seconds in Platinum

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Platinum Jewellery Demand Update

Today, platinum jewellery demand is globally diversified rather than being concentrated in China, as growth in markets outside of China between 2014 and 2024 partially compensated for a loss of demand in China over that period. In 2024, platinum jewellery demand returned to growth across all markets, including China, after troughing in the previous two years.

Read the latest WPIC® Report for CME Group

WPIC’s five-year outlook for the platinum market

How could the outcome of the US Section 232 investigation impact the platinum market?

Why invest in platinum?

Platinum’s attraction as an investment asset arises from the following:

  • WPIC’s research shows that the platinum market has been in sustained deficits every year since 2023
  • A substantial annual surplus would be required to rebuild above ground stocks to sustainable levels and alleviate ongoing market tightness
  • Higher prices are supportive of supply, but there is limited scope to increase mine output in the short term, although there is some upside potential for recycling supply
  • Diversity of end uses and a lack of lower-priced alternatives are supportive of platinum demand despite the price increase
  • The platinum price remains significantly below the price of gold with macropolitical uncertainty supporting the whole precious metals complex

Did you know?

Platinum is an undervalued investment asset with strong demand and a shortage of supply.

Our platinum facts infographic highlights the unique properties of this rare metal, which underpin demand for platinum across a diverse range of industries and applications. Learn how platinum supply is scarce relative to other precious metals and why platinum works to improve our world, as well as being the best metal for fine jewellery. Discover more about platinum as an investment asset, including ways to invest in physical platinum.

More Platinum Facts

The World Platinum Investment Council provides insights to advance platinum investment.

Our next Platinum Quarterly report will be published on 18 May 2026. Please subscribe to receive it regularly.