Evolution of platinum (10 years)
Deciphering the fall of platinum against gold over the last decade.
At a glanceAnalyzing the 10-year platinum price trajectory (2015–2026) reveals one of the most dynamic cycles in commodities. Impacted by Dieselgate, geopolitical sanctions, and the clean energy shift, platinum traded between a low of 600 USD and peaks above 1,300 USD. This retrospective details the macroeconomic drivers.
Decade Milestones
- 2015–2017: The Dieselgate Crisis: Collapsing European diesel car sales depressed platinum demand.
- 2018–2021: The Palladium Inversion: Palladium soared while platinum fell to historic relative lows against gold.
- 2022–2026: Supply Realignment and Rebound: Substitution back into gasoline catalysts and green hydrogen investments stabilized the market.
10-Year Price History (2015–2026)
| Year | Avg. Platinum Spot (USD/oz) | Platinum CHF/g | Gold Spot (USD/oz) | Platinum/Gold Ratio | Key Market Event |
|---|---|---|---|---|---|
| 2015 | 1,050 USD | CHF 32.50 | 1,160 USD | 0.91 | Dieselgate emissions scandal |
| 2017 | 950 USD | CHF 30.00 | 1,250 USD | 0.76 | European diesel market share slumps |
| 2019 | 860 USD | CHF 27.50 | 1,390 USD | 0.62 | Palladium overtakes platinum |
| 2020 | 880 USD | CHF 26.00 | 1,770 USD | 0.50 | Covid crash (Trough at 600 USD) |
| 2022 | 960 USD | CHF 29.80 | 1,800 USD | 0.53 | Geopolitical energy constraints |
| 2024 | 980 USD | CHF 28.50 | 2,350 USD | 0.42 | Central bank gold rush |
| 2026 (Current) | 1,020 USD | CHF 29.50 | 2,920 USD | 0.35 | Mining deficits & hydrogen acceleration |
Frequently Asked Questions (FAQ): 10-Year History
What was platinum's all-time record high?
In March 2008, platinum reached 2,273 USD/oz due to severe mine flooding and power failures in South Africa.
Is platinum more volatile than gold?
Yes, due to its smaller physical market volume (~190 tons vs 3,600 tons of gold) and high industrial correlation.
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