Platinum’s Resurgence: What Investors Should Know in 2026

For those who have been keeping tabs on precious metals this year, platinum suddenly stole the limelight. After years of relative underperformance, platinum has finally managed a meaningful comeback in 2025, and the market is poised at a fascinating juncture of supply constraints, shifting demand trends, and renewed investor interest. This is anything but broad market rhetoric.

We now present a detailed analysis, walking through the key themes that shape the platinum investment outlook for 2026, from price forecasts through demand dynamics to how platinum stacks up against gold.

Platinum Price Prediction: What Analysts are Saying

Forecasts of commodity prices are complicated, but various reliable forecasts suggest that platinum is likely to retain its momentum through 2026.

Bullish indicators include:

• A few analysts increased their price forecasts for 2026 for platinum following surveys indicating averages well above the recent history level amid continued strong demand against tight supply.
• Research houses specialising in specialist metals believe that structural deficits will support the price of platinum.
• Apart from the little contradicting factor of electric vehicles, the demand for platinum by the automobile industry for catalytic converters is complemented by other enormous demands from different industries, including hydrogen-based industries.

Consequently, platinum has punched above its weight, trading close to multi-year highs; thus, current forecasts are being made for 2026.

Platinum Price Forecast: What Analysts Are Saying

The forecasts of commodity prices are hard to predict; however, some reliable estimates indicate that platinum might continue to be strong in the year 2026.

Bullish signals include:

• There is a strong indication that many analysts have increased their price forecasts of platinum in the year 2026, with surveys indicating that the averages are far higher than what has been the case in past years.
• Platinum is still enjoying structural deficits and shortages of supply, which are strong price supporters, in specialist metals research houses.
• Other projections have broad ranges of platinum trading between, say, USD 1,300 and USD 1,800 per ounce. This is an indication of tight markets as well as investor excitement.

Meanwhile, some moderated opinions indicate that the market might have levelled to a certain degree: the World Platinum Investment Council (WPIC) predicts a relative surplus in 2026 when supply will be growing, and some of the investment demand will have become more normal.

The general projections are that the price behaviour of platinum over the next several years (2026) will be predetermined by the success of the supply shortages, the investment flows, and the change in industrial demand.

Platinum vs Gold Investment: A Comparative Look

Gold has a long track record as the archetypal haven, and in 2025, it hit record highs as global uncertainties drove demand. But platinum’s recent performance highlights why some investors are revisiting this lesser-talked-about metal.

How platinum differs from gold:

• Industrial component: Unlike gold, which is dominated by investment and jewellery demand, platinum’s price is tightly linked to industrial usage. This creates both opportunities and risks because a slow‑moving shift to electric vehicles could dampen automotive demand even as other sectors grow. 
• Undervaluation relative to rarity: Platinum is rarer than gold in the earth’s crust, and some investors see its historical pricing gap as a potential revaluation opportunity if demand stabilises or grows. 
• Safe-haven dynamics: The established role of gold as a hedge within portfolios continues to be robust due to central bank demand and geopolitical concerns. Platinum does not always offer the niche services of a store-of-value asset class; however, a transitional period lies ahead for the asset class as diversification across the precious metals is on the increase.

A comparison like this is not intended to convey that one metal is inherently superior to the other. Instead, the particular demand or supply dynamics that make platinum unique may provide diversification benefits in combination with gold.

Demand Trends to Watch in 2026

In the future, platinum demand will not be homogeneous; it will be influenced by some forces that are often in competition:

• Automotive sector: Consumption of catalytic converters is still relevant, but changes with the penetration of electric vehicles in place of internal combustion engines. Platinum will play an essential role in hybrid and hydrogen vehicles.
• Hydrogen technologies: Without a doubt, one of the most intriguing long-term trends in platinum is its application to hydrogen facilitation – a key part of electronic and fuel cell technologies. This area of growth could significantly impact demand in the next decade.
• Jewellery and bar demand: Historically, jewellery demand has led supply in the regions where it is strong. However, investment in bars and coins surged in 2025, most notably in Asia, adding a fresh layer of demand to that for jewellery.

In other words, platinum is no longer dependent on any one industry. Its appeal now spans investment markets, traditional industrial use, and next‑generation energy technologies, diversifying demand that could underpin stability in 2026.

Risks and Considerations

No investment is without risk, and there is information on the platinum story:

• Price volatility: Similar to other commodities, the price of platinum can be quite volatile. Shifts in monetary policy, macroeconomic conditions, or investor sentiment can meaningfully swing the prices around.
• Supply sensitivity: Geographic concentration in platinum supply means that it is susceptible to regional shocks. For instance, South African conditions can have an overwhelming impact on global prices.
• Transition to EVs: Faster-than-expected electric vehicle growth could, however, weaken traditional automotive demand for platinum, although this would be partly mitigated by the increasing demand from alternative applications.

Conclusion

The recent rise of platinum going into 2026 provides a great storytelling opportunity for investment-minded individuals looking beyond the likes of headlines such as nickel and zinc. While there is no guaranteed straight-line trajectory to higher prices based on factors such as a squeeze in supply and investment and a changeover in demand in the industry, it’s a near certainty that platinum is a product worthy of discussion.

Wondering where a platinum investment might fit into your strategic plans for 2026 and beyond? It's a great time to contact Perth Bullion Exchange for all the information and consider whether this resilient and often overlooked metal might be a good addition to your portfolio.