At 8:15 a.m. Eastern Time on February 10, 2026, platinum’s value stood at $2,094.68 per ounce. That’s a $22.05 increase from yesterday morning, and it’s a $1,100+ rise over the past year.
Prices current as of February 10, 2026. Fortune publishes a daily price of platinum post each weekday that data is available.
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Historical platinum performance
Precious metals generally serve as a secure yet modest investment option. Platinum is frequently regarded as a mechanism to sort of freeze your assets, protecting them from what many perceive as the steady erosion of the dollar’s purchasing power. When inflation rises, platinum’s worth typically increases in tandem, helping to maintain the real value of your savings.
During the past year, platinum has experienced remarkable growth—the most since the 2008 financial crisis. The metal’s value has jumped more than 77% starting from the beginning of 2025. Strong upward momentum began in June and has continued climbing steadily.
There are multiple reasons contributing to this price surge. Following gold’s substantial price increase, many investors have shifted focus to platinum as an alternative, more budget-friendly precious metal. Some buyers are looking to platinum as protection against hot-running inflation. Add to this that there have been production problems at major South African mines—which account for the vast majority of global platinum output—and you see a situation with lower supply of platinum while demand has soared.
What does “spot platinum” mean?
“Spot platinum” refers to the price at which you could in theory instantaneously purchase or sell platinum, without factoring in additional expenses such as brokerage fees, insurance, delivery, and similar costs. Consider spot price as the foundation that precious metals dealers use when listing their platinum offerings. When the spot price climbs, it indicates greater demand for platinum.
What is “price spread” in platinum trading?
The term “price spread” describes the difference between the price at which sellers offer platinum (the ask price) and the price at which buyers will purchase it (the bid price).
The bid price is always lower than the ask price—however, the size of this spread gives us insights into the state of the market. A large spread means weak demand, while a tight spread suggests a more active market with high demand.
How to invest in platinum
Should you wish to invest in platinum, several options are available. From coins and bars to jewelry to mutual funds, each platinum investment type carries distinct advantages and disadvantages. The following are common approaches to platinum investing:
- Platinum bullion and coins: Most platinum bars, rounds, and coins meeting 99.95% purity standards qualify as investment-grade bullion.
- Platinum jewelry: Platinum crafted into jewelry typically commands a premium relative to the bullion value of the same purity level.
- Platinum mining stocks: Rather than holding physical platinum, you may purchase shares in mining corporations whose performance is linked to platinum prices.
- Platinum ETFs: You have the option to buy funds that hold platinum investments, providing exposure without the need to purchase and store actual platinum.
Is it a good time to invest in platinum?
Platinum has not consistently delivered exceptional returns. Throughout history, its price has changed gradually—making it, for the most part, a low-volatility investment with ordinary year-to-year gains.
The notable exception has been the past year, which has delivered astounding gains similar to its dramatic surge in 2008. Back then, platinum’s price reached $2,100 per ounce before collapsing to under $800 per ounce. The 2008 financial crisis triggered this collapse, with forced selling and diminished demand from platinum’s key industries (including automotive, which represents one of platinum’s largest consumer bases).
Precious metals such as platinum represent a reasonable investment option if you are hedging against currency debasement. However, platinum’s track record shows that it’s highly susceptible to shifts in industry since it’s used extensively across various manufacturing sectors.
For those seeking a more stable precious metal, gold might be a better choice. Gold derives value primarily from its aesthetic appeal rather than practical application. As always, limiting precious metals to 15% of your overall investments is prudent.
Current precious metals prices as of 8:15 a.m. ET on February 10, 2026
Again, when it comes to precious metals investing, gold remains the benchmark. Its substantial market presence comes with greater stability. Among recent performers, silver has also shown particularly strong growth over the past year and continues to be an accessible investment. These metals (along with platinum) are common choices for retirement accounts. See our guides on best gold IRAs and best silver IRAs for additional details.
The takeaway
In recent years, economic turbulence has drawn the attention of experienced investors toward commodities including platinum. With platinum’s impressive 77% appreciation over the past 12 months, adding platinum to your investment mix is likely becoming more appealing every day.
For those beginning their precious metals investment journey, platinum is a solid choice because of its significantly lower cost than gold. Physical bars and coins, decorative pieces, mutual funds, and other platinum vehicles can help safeguard your wealth against inflation. However, its industrial applications also means that it’s subject to ups and downs in ways that some other options might not be.
Frequently asked questions
What’s driving platinum prices in 2026?
Platinum values continue to climb due to limited supply thanks to production constraints at South African mines alongside heightened investment and consumer interest.
What percentage of my portfolio should I allocate to platinum?
Many experts advise that you limit precious metals investments, including platinum, to not more than 15% of your total portfolio.
Can platinum be held in an IRA?
Certain platinum assets may be included in an IRA account. The platinum items must be of 99.95% fineness and minted by a qualified refinery. The platinum holdings must be kept with a custodian approved by the IRS.
Is platinum more volatile than gold?
Platinum is typically more volatile relative to gold because of its extensive uses in industries like automotive and renewable energy. Its value can experience sharp movements based on changes in demand from these industries. Gold’s price movement, conversely, is primarily driven by investment trends.
