Platinum is totally underestimated when you look at the current market data. In early February, the price was just under $2,000 per ounce, after briefly reaching $2,925 at the end of January – a new all-time high. The crazy part: gold is now over $2,700 more expensive per ounce, even though platinum is significantly rarer.

What many haven't noticed: The platinum rally since mid-2025 has been intense. From under $1,000 to over 200% gains – even gold hasn't achieved that in this period. The reason lies in a perfect combination: supply shortages in South Africa (70-80% of global production), structural deficits, geopolitical tensions, and a weak US dollar.

I see great potential in the use and future of platinum. Not only in the automotive industry (catalysts), but also in fuel cells and green hydrogen – this will be massively important in the coming years. The WPIC expects an additional demand of 875,000-900,000 ounces by 2030 solely from hydrogen technologies. That’s bullish in the long term.

But caution: the volatility is fierce. In 6 days, the price dropped 35%, then rose again 20%. The futures market, with only about 73,500 contracts, is significantly less liquid than gold. It could be interesting for active traders, but more suitable as a portfolio addition for conservative investors. Anyone entering here should know that platinum has a different risk profile.