Could platinum be a good alternative to gold and silver?
While forecasting the performance of any asset remains challenging, some analysts interviewed by Money.it are advising investors to broaden their horizons and take a closer look at this particular metal.
Platinum: What Market Fundamentals Are Telling Us
Platinum could deliver positive surprises, with some analysts seeing further potential in the metal as its market fundamentals tighten.
Like gold, which has undergone a sharp pullback from the all-time highs reached at the beginning of 2026, platinum prices have also gone through a significant period of weakness, as Edward Sterck, director of research at the World Platinum Investment Council (WPIC), noted in an interview with Kitco News.
Sterck noted that, during the first six months of 2026, platinum prices fell 24%, sliding to levels 46% below the January 2026 peak of $2,875 an ounce.
The decline was also driven by market fundamentals, with the platinum market posting a surplus of 548,000 ounces in the first half of the year, largely as a result of heavy investment liquidation.
But a turning point may already be underway. WPIC expects the platinum market to shift into a deficit of 280,000 ounces in the second half of the year:
“We’re back in deficit market conditions already”, Sterck said in an interview with Kitco News. “We have seen the selling stop, and we have seen some buying return”.
He added that the platinum market’s underlying fundamentals remain relatively tight, with investment demand expected to improve through the second half of the year.
Paynter (Dynamic Forex Solutions) on Platinum: Watch These Support and Resistance Levels
Platinum is currently trading at around $1,800 an ounce. Also bullish on platinum prices is James Paynter, CEO and founder of Dynamic Forex Solutions LLC (trading as Dynamic Outcomes).
Paynter is a currency and commodity cycle analyst with a 21-year documented track record covering 9,690 forecasts across forex, gold, and Bitcoin.
Asked by Money.it which metals other than gold are worth considering, Paynter pointed to platinum:
“Platinum is one I am watching”, noting that “it broke out of a multi-year base in 2025 and ran to $2,919 before correcting hard – and like gold, that move looks corrective in structure”.
His view is “overall bullish”, he stressed, although he sees the “chance of one last thrust lower between now and year-end, toward the $1,538–$1,456 support zone, before the uptrend resumes.
Paynter added that “a break above $1,899 is the initial reversal signal”, and that platinum price “above $2,194 confirms the low is in”. But “below $1,337, I am wrong”.
That said, “the risk-reward case is straightforward: a metal in supply deficit, trading at 40% of gold’s price, having had a deep correction.”
This means that “ for the investor who missed gold’s run , platinum looks like it is where the potential is.”
Elliott (APMEX): “investors who are skeptical of the energy story for silver might prefer platinum”
Another expert highlighting the investment opportunity in platinum is Brett Elliott, Director of Marketing at American Precious Metals Exchange (APMEX, Inc.), where he spearheads the research and macro analysis efforts for the company’s YouTube channel, APMEX Answer.
Elliott, who is highly bullish on silver, which he describes as ‘“a fantastic metal”’ with “the potential to go much higher”, also discussed with Money.it the case for platinum as a potential alternative to silver.
On the one hand, Elliott told Money.it that silver remains attractive because “the world is investing in energy infrastructure and consuming silver rapidly”, explaining that “while silver is a monetary metal, the industrial use cases make it a uniquely valuable commodity that’s relatively price insensitive”.
But “on the flip side, investors who are skeptical of the energy story for silver might prefer platinum, which is about 30 times rarer than gold and its main use case is in the auto industry”.
More broadly, Elliott stressed that “both metals, however, depend on a strong economy to fully realize their potential”.
Today the platinum futures contract is currently trading below $1,800 an ounce, at $1,793.30 an ounce..
According to Paynter’s estimates, in order to leave the low behind - a low that could potentially be retested by year-end - prices would need to break above $2,194. That would imply an upside of at least 22% from current levels.
