Current price of platinum as of Thursday, February 5, 2026

Historical platinum performance

Within the investment category of precious metals, platinum serves as a dependable yet cautious option. Investors frequently turn to platinum as a tool to protect their assets from the gradual decline of currency value. It tends to appreciate when inflation accelerates, working to shield you from the brunt of a struggling economy.

The past year has brought platinum gains like we’ve not seen since the financial crisis of 2008. It’s surged more than 77% since the previous 12+ months. June marked the start of skyrocketing platinum value, and momentum has stayed strong ever since.

This sharp increase stems from multiple trends happening at once. Gold has shot up in value recently too—and some investors have looked to platinum as an economical alternative. To boot, supply challenges at South Africa’s major mining operations—responsible for the majority of worldwide platinum supplies—combined with growing demand pressures have created a tight market.

What does “spot platinum” mean?

“Spot platinum” refers to the price at which platinum could theoretically be bought or sold immediately, before accounting for charges like dealer margins, protective insurance, transportation costs, and related costs. Think of the spot price as the reference rate that precious metals traders cite when selling platinum. An increasing spot price generally means mounting demand for platinum.

What is “price spread” in platinum trading?

The “price spread” is the gap separating what buyers are ready to pay (bid price) from what sellers are looking to get (ask price) for platinum.

The bid side of this spread will always be lower than the ask side—but looking at spread behavior offers valuable insights into market conditions. A tight spread means robust market activity with lots of traders. A wider spread indicates slower trading with fewer participants.

How to invest in platinum

If investing in platinum interests you, you’ve got a wide variety of choices. You can hold physical metal in bar or coin form, own platinum jewelry, purchase mining company stock, or invest through pooled funds. Here are the primary channels for getting platinum exposure:

• Platinum bullion and coins: Platinum bullion-grade bars, rounds, and coins with 99.95% fineness qualify for investments like IRAs.
• Platinum jewelry: Platinum designed for personal wear typically trades at prices above the base bullion cost due to artisanship and design value.
• Platinum mining stocks: Instead of direct platinum ownership, you can hold equity stakes in mining enterprises whose stock prices correlate strongly with platinum market prices.
• Platinum ETFs: Platinum exchange-traded funds give you convenient exposure without the burden of acquiring and managing physical platinum.

Is it a good time to invest in platinum?

Platinum may be what you’re looking for—but you should go in clear-eyed, understanding that historically it has not shown massive growth. Its valuation generally evolves over the years, establishing its reputation as a defensive, lower-return option.

But the past year is a remarkable outlier that’s seen gains on par with the extraordinary price spike in 2008. At that time, platinum approached $2,100 per ounce before declining sharply to under $800 per ounce. Difficult conditions in 2008 triggered forced asset sales and largely collapsed demand from platinum-dependent industries.

Precious metals investments including platinum can be sensible if inflation hedging is your main goal. That said, platinum is susceptible to industrial demand in a way that some other options might not be.

If you’d rather have a reduced volatility in your precious metals holdings, gold offers an alternative. Gold commands value for its beauty and prestige, not primarily for functionality. But, as a general rule, experts suggest you should cap precious metals at a maximum of 15% of total portfolio value.

Current precious metals prices as of 8:30 a.m. ET today

Gold continues to anchor the precious metals market. Its market size provides relative stability. Silver has delivered notable increases this year, and it remains accessible for those beginning precious metals investing. These metals (along with platinum) can be widely held within retirement funds. Take a look at our articles on the best gold IRAs and best silver IRAs for in-depth guidance.

The takeaway

The combination of economic uncertainty and persistent market volatility has pushed commodities such as platinum to the forefront of investor interest. With platinum’s spectacular 77% appreciation in the past year, the case for adding platinum to your portfolio is stronger than ever.

Just be mindful that platinum’s significant ties to industrial demand sectors create greater price variability compared to certain other precious metals.

Frequently asked questions