Why Platinum Matters to Your Portfolio: 4 Reasons Investors Are Looking Twice

Platinum is flying under the radar, but it’s actually the third most-traded precious metal globally—and the supply-demand story is getting spicy.

Here’s what’s driving platinum demand in 2024:

Autocatalysts dominate — 3.17M oz annually, climbing to 3.25M oz in 2025. Every car with emission controls needs platinum. Over 95% of new vehicles have one, and stricter pollution rules mean demand keeps growing.

Jewelry is the wild card — China’s pushing hard. Platinum jewelry demand expected to hit 1.95M oz in 2024, up 5% YoY. It’s stronger than gold, tarnish-proof, and gaining traction as a gold alternative.

Industrial applications are secretly massive — hard drives, sensors, fertilizer catalysts, dental work. 2.43M oz forecast for 2024.

Medical uses are climbing — cancer drugs (cisplatin, carboplatin), stents, neuromodulation devices. Medical demand trending up to 314K oz by 2025.

The pricing twist: Platinum’s 30x rarer than gold but costs less than half the price. Why? Gold’s seen as a safe haven, while platinum depends on industrial demand—which tanks during recessions. 2024 trading range: $900–$1,100/oz.

Supply side is stressed — South Africa (top producer) dealing with electricity and railway issues. Russia’s war + COVID hangover = growing deficit. But weak EV adoption actually helps platinum demand, since EVs don’t need catalytic converters.

Bottom line: Platinum’s cheap relative to its rarity and industrial importance. Could be a contrarian play if economies stabilize.