I just looked at the platinum development again – this stuff has really gone wild this year. At the beginning of the year, the price was around $2,000 USD, now it's hovering somewhere in between. What surprised me: platinum was long completely in the shadow of gold, but since mid-last year, something suddenly happened. From under $1,000 USD to almost $3,000 USD – that was intense.

The thing is: the platinum market is extremely illiquid. Only about 73,500 NYMEX contracts in circulation, while the gold market has over $200 billion USD in volume. That also explains why the fluctuations are so intense. One week +40%, then again -35% – that's not normal.

What’s interesting for the platinum price forecast: the supply side remains tight. South Africa produces 70-80% of the global supply but has structural problems. The WPIC expects a balanced year in 2026, but after that, shortages could return until at least 2029. In the long term, hydrogen technologies and fuel cells are expected to require significantly more platinum.

For the platinum price forecast 2026, analysts are divided: Heraeus predicts $1,300-$1,800 USD, BofA forecasts $2,450 USD, Commerzbank leans more toward $1,800 USD. So quite a wide range – that shows the uncertainty.

As an active trader, I find this interesting because of the volatility, but you have to be very careful with stop-losses and position sizing. The platinum price forecast heavily depends on Fed decisions, dollar strength, and geopolitical tensions. Investing physically or via ETFs makes more sense for more conservative types if you want to include platinum in your portfolio.

The thing is: platinum is rarer than gold but has long been traded at significantly lower prices. Whether that was a bargain or if further corrections are coming – hard to say. The next few months will be exciting.