Just noticed: Platinum is currently going completely crazy. At the beginning of 2026, the stuff hit a new all-time high of nearly $2,900 per ounce — and then it dropped over 35% in the blink of an eye. Wild rollercoaster ride.

The interesting thing is: what is actually more valuable, platinum or gold? A few years ago, that question never would have been asked because gold simply dominated everything. But in 2025, the tide turned. While gold has been setting new records constantly since 2019, platinum hovered around $1,000 for years. Then suddenly in June 2025 — boom — a rally like out of nowhere. The price shot from below $1,000 to over $2,900. That’s over 200% in just a few months.

What makes platinum vs. gold so different? Gold is simply a pure investment capital, inflation-protected, done. Platinum is something else — it’s heavily used in industry. Catalysts for cars, medicine, hydrogen technology, chemicals. That means: when the economy is running, demand explodes. And that’s exactly what happened. Plus, there was a supply shortage in South Africa (which produces 70-80% of the world’s supply), geopolitical tensions, and a weak dollar. Perfect storm.

But caution: the platinum market is mega illiquid. With only about 73,500 open contracts on NYMEX, it’s a playground for volatility. The 35% correction in just a few days clearly shows that. If you want to trade here, you need nerves of steel and good risk management. Some analysts see platinum at $1,300 in 2026, others at $2,450 — showing how uncertain the situation is.

In the long term, platinum could be interesting. WPIC expects deficits again after 2026 until 2029, and the hydrogen economy could become a major demand driver. But in the short term: highly volatile, high risk. For conservative investors, maybe a small addition to the portfolio; for active traders, there could be exciting setups — if you know what you’re doing.