Staff Answer
May 05, 2026 - 06:38 AM
Platinum is showing strong momentum this morning. As of 9 AM ET on May 5, 2026, the platinum spot price is $1,988.70 per ounce, a significant 0.77% gain over yesterday’s $1,973.60. The rally is primarily driven by a surge in "green premium" demand as new large-scale hydrogen electrolysis plants in the EU and China go online. With South African supply constraints persisting due to ongoing energy grid instability, platinum is outperforming other precious metals today as investors anticipate a tightening market for the remainder of 2026.
