Platinum has been trading around the $1,000 pivot point, disappointing investors and traders for years. The market remains rangebound, with potential for a significant rally when it breaks out. Low liquidity and gold’s price action continue to support higher platinum prices, requiring patience from market participants. Near NYMEX platinum futures have been trading in a $400 per ounce range since June 2021, straddling the $1,000 level.

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On January 20, 2025, the U.S. energy policy is set to shift dramatically towards oil and gas production, potentially boosting demand for platinum group metals used in catalytic converters and refining processes. This policy change could increase the demand for platinum and other group metals in the coming years.

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Platinum, along with other group metals like palladium and rhodium, has industrial applications in oil refining and automobile catalysts. While historically trading higher than gold, platinum’s price has steadily declined in recent years, offering potential value compared to gold. With gold reaching new highs, platinum’s current price level could present an opportunity for investors.

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The year-to-date chart for NYMEX platinum futures in January 2025 shows a tight trading range below $1,000, with technical support and resistance levels indicating potential price movements. The physical market for platinum includes options for investors, such as the Aberdeen Physical Platinum ETF (PPLT) and the GraniteShares Platinum Shares ETF (PLTM), both tracking the metal’s price effectively.

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Platinum, with its current consolidation around $1,000 per ounce, offers compelling value compared to gold, trading at a significant discount. As gold continues its bullish trend, reaching new highs, platinum’s potential breakout above $1,200 technical resistance could lead to a significant rally, closing the gap with gold’s price. Physical platinum investment options exist, but they can come with premiums and delivery costs.

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As gold prices show strength and potential for further highs, platinum’s historical performance and industrial applications position it as a valuable investment opportunity. The shift in U.S. energy policy towards oil and gas production could drive demand for platinum group metals, including platinum, in the near future. Investors may find platinum’s current price level attractive for long-term investment, considering its potential for a breakout rally in 2025.

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