Platinum Price Forecast in India (2026–2030)

If you are like most Indian investors, then you are probably poring over your portfolio, thinking about what the next big move could be. But while you are busy fine-tuning your SIPs and investing in the latest trends for equities, you may well have missed the huge opportunity lying before you. It is not Gold. Nor is it Silver. It is Platinum.

For many years, Platinum was the dull nephew of the precious metals group and frequently sold below the price of gold; a weird occurrence that both befuddled and confused analysts and researchers alike. But then the latter half of 2025 turned everything upside down.The price woke up as the world finally grasped a simple and painful fact that we are running short of stuff. South African mines are struggling to pay the electric bill and a hydrogen economy that had long existed on PowerPoints is now on its way to the production floor.

Historical Trend of Platinum Price in India

Historically a niche luxury in India, platinum has transformed from an “elite-only” metal in the early 1900s to a modern favorite for millennials today. While gold remains the traditional choice for weddings, platinum also has carved a unique space celebrated for its durability and understated elegance. Beyond adornment, it is a strategic industrial powerhouse, critical for automotive catalytic converters and now, the Green Hydrogen economy.

Price Trends (Per 10g):

• 2022: Rs.25,000 – Stable demand.
• 2023: Rs.27,500 – Moderate growth.
• 2024: Rs.25,000 – A temporary dip due to global economic shifts.
• 2025: Rs.50,000 – A breakout year ending with a massive surge towards Rs.70,000+. 

Recent price hikes are driven by severe supply deficits in South Africa and its new status as a key “Green Energy Metal,” making it a dual-asset class of luxury and utility.

Year-by-Year Price Forecast (2026-2030)

Year	Predictions
2026	The year begins with the price ranges touching Rs.65,000 for every 10g. The market is adjusting to a monumental shortage created in the previous year. With the SA mines under threat due to electricity shortages, the supplies are not going to be able to match this demand.
2027	The Indian Green Hydrogen Mission goes from the drawing board to implementation. The massive electrolyzers required for green power use platinum. This represents freshly minted, greed-driven demand emerging from industrial majors like Reliance. The price might touch up to Rs.75,000.
2028	The tremendous surge witnessed in the Hybrid segment in Cars (which consumes more platinum as compared to a normal car), the industrial engine is running on all its cylinders. Without the addition of the new mine, the price might touch Rs.85,000-Rs.90,000.
2029	The absence of mining expenditures in the 2020s will have effects. Several years are required to excavate a new mine, and thus demand will see a steep rise while mining remains stagnant. Recycling will not help to fill the deficit and the price might  cross Rs.1,00,000 for 10 grams of Platinum.
2030	Platinum is famous till this year as it is essential for eco-friendly energy, specifically for Hydrogen Power. The Hydrogen fuel industry cannot function without platinum (essential ingredient), due to this price will surge even more. Investors waiting for the price jump will have the right opportunity to earn profits.

Read Also: Gold Rate Prediction for Next 5 Years in India

Key Drivers

The South African Power Crisis, where as per estimation South Africa has 70% of the world’s platinum. Deep underground mining requires huge amounts of electricity for ventilation and cooling. But South Africa’s power utility, Eskom, has struggled for years with stability. Every time the power goes out-known as load shedding-the mines stop working. Supply is “inelastic” meaning even if prices go up, miners cannot simply dig faster because they physically don’t have the power to do it.

For a long time, Palladium was much more expensive than Platinum. So, car makers switched and they started using cheaper Platinum in their catalytic converters instead of Palladium to clean exhaust fumes. It takes years to design and certify a car engine, so this demand is not going away anytime soon. This “substitution” has created a massive, steady floor of demand from the auto industry that many analysts underestimated.

Platinum Industrial Demand

• The Auto Sector : All of us believe that electric car sales (EVs) will cause the end of platinum demand because EVs do not require catalytic converters. This is true, but it is not happening as quickly as we thought it would. Meanwhile, the Hybrid car industry is booming. Hybrids are gas engines. They start up and shut down often. Hybrids emit low pollutants when the car is started from a stop. They use more platinum than traditional engines because of platinum’s effectiveness.
• The Jewelry Market : In India, platinum has discovered a new and devoted clientele in Men. The ‘Men of Platinum’ movement has successfully established platinum as a status symbol in younger generations of Indian men who consider gold to be too flashy and conventional. There were double-digit sales in the last year. This forms a solid consumption base, oblivious to the cycles of industry and hydrogen, just needing the metal for weddings and celebrations.
• The Investment Sector : Today China is stockpiling platinum. It is a strategic material for them, much like petroleum or copper. If the world’s largest producer of manufactured goods stores a particular metal, it is a strong indication that they forecast an escalation in prices. Indian investors are just starting to wake up to this trend, adding platinum to their portfolios as a hedge against inflation and currency risks.

Factors Affecting Platinum Price in India

• One Source Problem : South Africa being the power house with a production capacity of 70-80% is still facing severe electricity shortage and aging mines due to this the mines cannot run at full capacity. This has a long term effect due to structural shortage that will create long-term upward pressure on prices. 
• Essential Ingredient for Green Energy : Green Hydrogen fuel is rising and platinum acts as a critical ingredient for production. India companies have started building clean energy plants to meet government goals, leading to increased demand for platinum. 
• Dollar Connection : Since platinum is mostly imported and the payment is done in Dollars and the increasing dollar price is a concern. If the Rupee gets weaker against the Dollar, platinum will get even more expensive, even if the global prices are the same.  
• Hybrid Cars : Everyone thought Electric Vehicles (EVs) will make platinum as EVs don’t have exhaust pipes but with the introduction of hybrid cars people are switching to them as they run on both battery and fuel making it a preferred choice for many. And Hybrid cars require more platinum to keep their engine clean, leading to an increased demand.  

What This Means for You:

• For the Buyer: If it’s a wedding that involves buying platinum jewelry, don’t delay. The days of “platinum being cheaper than gold” might just be counted because now the trend is reversing. So, buy now before the industrial premium affects prices.
• For the Investor: You don’t simply invest in Platinum on the stock exchange. Unlike Gold, currently, you do not have the option to invest in Platinum ETFs on the National Stock Exchange or the Bombay Stock Exchange. You cannot simply click on the app of your stock broker and order units of ‘Platinum BeES’.
• Digital Platinum: Websites such as eBullion enable you to purchase platinum online. They keep the physical metal in a vault for you. At present, this is the most convenient way of getting exposure for an individual investor in India.
• US ETFs: If you can trade in US Markets, then investing in US ETFs like PPLT (Brand Physical Platinum Shares) is also possible. It’s the best way to enter the US markets. You can buy coins from banks or mints, but be careful.

Read Also: Silver Rate Prediction for the Next 5 Years in India

Conclusion

We are standing at the start of a cycle, 2025 proved that the surplus is gone, 2026 is about the deficit biting. For India, platinum is no longer just a luxury metal; it is a strategic necessity for our green energy goals. The combination of South African supply risks and Indian industrial demand creates a perfect storm for higher prices.

If you are looking to diversify beyond gold and stocks, platinum offers a compelling story. It is undervalued, essential, and scarce. Just make sure you know how to buy it, because the usual Indian routes won’t work.

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