Peter Smith
⬤ Platinum prices exploded higher, with January 2026 futures (PLF26) climbing above $1,820 and marking the highest price in more than 14 years. The rally represents a major breakthrough for the metal, which had been stuck well below its former peaks for years. The chart shows a decisive breakout, with prices smashing through resistance near $1,800.
⬤ This surge comes after years of grinding consolidation. Following a peak above $2,000 in the early 2010s, platinum slid into a long downturn, spending years trapped between $800 and $1,100. Prices slowly recovered over time, but recent months show a clear shift into higher gear. The latest session saw PLF26 jump over 3% to trade near $1,823, confirming the upward momentum is real.
⬤ The chart shows just how fast things moved once that resistance broke. After years of going nowhere, platinum's rapid climb in 2025 signals a clear change in market dynamics, with buyers firmly in control as prices hit levels not seen since 2011. The move puts platinum among the strongest performers in the precious metals space lately.
⬤ This matters for the broader market because platinum straddles both industrial demand and precious metals sentiment. When it holds at multi-year highs, it tends to influence commodity trends across the board and shifts expectations throughout the metals complex. If prices stay above that old resistance zone, we could be looking at a new chapter for platinum as traders rethink their long-term positions.
Peter Smith
