Is Platinum Still a Buy After the Correction?

Price Trends - Platinum futures rose nearly $900 per ounce from the 2025 closing price level, reaching around $2,250 on February 4, 2026, after a high of $2,925.00 on January 26, 2026 [2][3][5] - The daily chart indicates a volatility pattern, with platinum futures dropping 35.7% from the January 26 high to a low of $1,882.00 on February 2, 2026, before recovering above $2,250 on February 3 [5] Historical Context - Platinum was historically priced higher than gold until 2015, but since then, gold has gained a significant premium, reaching over $2,745 per ounce in early 2026 [7] - Platinum is currently considered inexpensive compared to gold, which has been a trend over the past sixteen years [6][7] Market Characteristics - Platinum has more industrial applications than gold, which is primarily a financial metal held by central banks [8] - Platinum production is concentrated mainly in South Africa and Russia, with Russian output being a byproduct of nickel production [8]