While gold and silver often dominate the headlines, platinum is quietly setting up one of the most compelling supply-demand stories in the metals market. Industry research now projects structural deficits lasting through at least 2029, creating a long-term case for tighter fundamentals.
On the supply side, platinum faces constraints. Much of global production comes from South Africa, where power shortages, labor issues, and declining ore grades restrict output. Recycling flows, another key source, remain limited. This means new mine supply struggles to keep pace with demand.
On the demand side, the picture looks supportive. Platinum plays a critical role in catalytic converters, hydrogen energy development, and a range of industrial applications. With growing interest in green hydrogen as a clean fuel source, platinum could see rising demand over the next decade.
Together, these dynamics create a classic setup — constrained supply paired with expanding use cases. For investors, that combination often leads to upward price pressure. While platinum is more volatile than gold or silver, small allocations can complement a diversified metals portfolio.
Takeaway: Platinum’s structural deficits represent a rare opportunity for strategic investors looking beyond the traditional gold-silver balance.
