Just looked at the platinum charts again – what's been happening since mid-last year is really wild. The price shot up from under $1,000 to nearly $2,925, then corrected sharply again. For many, buying platinum has become an interesting topic again because gold has become so insanely expensive.

The interesting part: platinum is significantly rarer than gold and has massive industrial demand – catalytic converters, fuel cells, medical applications. Yet, it was ignored for years while gold soared from record to record. In early 2026, gold was still over $2,700 per ounce above platinum – the biggest price discount in history. But that could be an opportunity: if you believe platinum is structurally undervalued, buying platinum could make sense as a cheaper alternative to gold.

But beware – the volatility is brutal. Within six days, the price dropped 35%, then jumped back up 20%. This is no walk in the park. The market is extremely illiquid, meaning even smaller orders can cause large price swings. Active traders might find this interesting, but for conservative investors, buying platinum makes more sense as a small addition to the portfolio – maybe through ETFs instead of physical to save storage costs.

Experts disagree: some see $1,300–$1,800, others $2,450 for 2026. This shows how uncertain the situation is. The supply crisis in South Africa (70–80% of the world’s production!) remains, but demand could also weaken by 2026. Long-term, the hydrogen economy could be a game-changer – WPIC expects significantly higher demand by 2030.

My take: whether buying platinum makes sense depends on the type. For swing traders with risk management, the volatility offers opportunities. For buy-and-hold investors, a small quota of platinum could actually make sense to diversify the portfolio – but not too large a position. The opportunities are there, but so are the risks. Don’t forget: set a stop-loss and never risk more than 1-2% per position.