Staff Answer
May 22, 2026 - 06:22 AM
At 9 AM ET on May 22, 2026, the spot price of platinum stands at $1,947.00 per troy ounce, showing a solid 0.58% advance over yesterday morning’s fix of $1,935.70 per ounce. Platinum's morning gains are primarily fueled by compounding supply-side constraints originating from South Africa, which accounts for the vast majority of global mine-level production. As operational bottlenecks and energy grid instabilities squeeze primary mining output, demand from the global automotive sector remains robust. Tightened environmental mandates for catalytic converters, coupled with steady industrial purchasing, have allowed platinum to successfully recapture its upward momentum in today's trading session.
