The platinum price in the USA is about $1,792 per troy ounce based on the latest clearly timestamped Kitco spot quote available for September 13, 2026. Kitco reported a $1,792 bid and $1,802 ask, with platinum trading at about $57.61 per gram and $57,615 per kilogram.
Platinum prices change throughout the global precious-metals market, so the price you see for a physical platinum coin, bar, or jewelry item can be different from the spot price.
Price checked: September 15, 2026. Reference spot quote: September 13, 2026.
Quick Answer: What Is the Platinum Price Per Ounce?
The latest reference price is approximately:
Platinum spot price = $1,792 per troy ounce
| Platinum Weight | Approximate Spot Value |
|---|---|
| 1 gram | $57.61 |
| 5 grams | $288.07 |
| 10 grams | $576.14 |
| 20 grams | $1,152.28 |
| 50 grams | $2,880.71 |
| 100 grams | $5,761.41 |
| 500 grams | $28,807.07 |
| 1 kilogram | $57,614.14 |
| 1 troy ounce | $1,792.00 |
These calculations use 1 troy ounce = 31.1034768 grams. Kitco’s own platinum page reports approximately $57.61 per gram and $57,615 per kilogram at the same reference price.
What Is Platinum?
Platinum is a precious metal used for both investment and industrial purposes.
It is particularly important in automotive applications, jewelry, laboratory equipment, industrial catalysts, glassmaking, petroleum refining, and some medical and energy technologies. Kitco describes platinum as one of the rare major metals and notes that investment platinum is typically .9995 fine, while platinum jewelry is commonly 950 platinum, meaning 95% platinum.
Because platinum has substantial industrial demand, its price can respond differently to economic conditions than gold.
Platinum Price Per Ounce Today
The platinum market is quoted internationally in U.S. dollars per troy ounce.
The latest Kitco quote used for this article showed:
- Bid: $1,792.00
- Ask: $1,802.00
- Daily change: +$18.00
- Daily change: approximately +1.01%
- Per gram: $57.61
- Per kilogram: about $57,615
The quote was timestamped September 13, 2026, at 12:31 a.m. ET.
The bid and ask are important because they show why there is not always one single price for buying and selling platinum.
Platinum Spot Price vs Physical Platinum Price
The spot price is the market benchmark for platinum.
It is not necessarily the amount you will pay for a physical platinum bar or coin.
A dealer can charge a premium above spot because of:
- Refining
- Minting
- Fabrication
- Packaging
- Distribution
- Inventory
- Dealer margin
- Shipping
- Payment processing
Kitco explicitly notes that its displayed platinum value is an estimated metal value and that retail premiums may apply to physical products.
For example, if platinum has a spot price of $1,792 per ounce, a physical one-ounce platinum product may cost more than $1,792.
How Many Grams Are in a Platinum Ounce?
Precious metals use the troy ounce, not the ordinary household ounce.
One troy ounce equals approximately:
31.1035 grams
Therefore:
$1,792 ÷ 31.1035 = approximately $57.61 per gram
This gives the following approximate spot values:
| Weight | Platinum Value at $1,792/oz |
|---|---|
| 1 gram | $57.61 |
| 2 grams | $115.23 |
| 5 grams | $288.07 |
| 10 grams | $576.14 |
| 20 grams | $1,152.28 |
| 50 grams | $2,880.71 |
| 100 grams | $5,761.41 |
The actual physical-product price can be higher because of premiums.
Platinum Price Per Kilogram
A kilogram contains approximately 32.1507 troy ounces.
At a platinum spot price of $1,792 per ounce:
$1,792 × 32.1507 = approximately $57,614
So the reference spot value of one kilogram of pure platinum is approximately $57,614.
Kitco’s displayed kilogram value was about $57,615, with the small difference resulting from rounding.
Platinum Price by Purity
Not all platinum products contain exactly the same amount of platinum.
Investment-grade platinum is commonly .9995 fine, while platinum jewelry is frequently marked 950.
At the $1,792 spot reference:
| Platinum Purity | Approx. Value Per Troy Ounce |
|---|---|
| 999.5 / investment grade | ~$1,791.10 |
| 999 | ~$1,790.21 |
| 950 platinum | $1,702.40 |
| 900 platinum | $1,612.80 |
| 850 platinum | $1,523.20 |
Kitco’s platinum calculator provides the corresponding metal values for several purity levels.
These are metal-content calculations, not retail prices.
Platinum Price for 1 Ounce
If you are comparing one-ounce platinum products, the most important number to start with is the spot price.
At the current reference price:
1 troy ounce of 999+ platinum ≈ $1,792 spot value
But a physical one-ounce coin or bar can sell above spot.
When comparing dealers, look at both:
Purchase price − spot price = premium
and:
Spot price − dealer buyback price = potential selling spread
A lower purchase premium can make a significant difference when buying precious metals.
Platinum Coin Price vs Platinum Bar Price
One-ounce platinum coins and bars can have different premiums even though they contain similar amounts of platinum.
Platinum Bars
Bars are often straightforward products designed primarily around metal weight and purity.
Common sizes include:
- 1 gram
- 5 grams
- 10 grams
- 20 grams
- 1 ounce
- 50 grams
- 100 grams
- 1 kilogram
Platinum Coins
Government-minted platinum coins may carry additional premiums because of:
- Minting costs
- Recognition
- Design
- Collectibility
- Packaging
- Dealer demand
Therefore, two products containing one troy ounce of platinum can have different retail prices.
Platinum Jewelry Price
Jewelry pricing works differently from bullion pricing.
A platinum ring, necklace, bracelet, or other piece can cost substantially more than the value of its platinum content.
The final price may include:
- Platinum weight
- Purity
- Design
- Manufacturing labor
- Brand
- Gemstones
- Retail markup
- Taxes
For example, 950 platinum means the alloy is approximately 95% platinum. Kitco lists the metal value of one troy ounce of 950 platinum at about $1,702.40 at its $1,792 spot reference.
That does not mean a finished jewelry item containing one ounce of platinum will sell for $1,702.40.
Why Does Platinum Cost So Much?
Platinum is a scarce precious metal with significant industrial applications.
Its physical characteristics make it useful in demanding environments, while its chemical properties make it valuable for industrial catalysts and other applications.
Kitco notes platinum’s use in automotive catalysts, jewelry, laboratory equipment, glassmaking, petroleum refining, and medical devices.
This mixture of investment, jewelry, and industrial demand makes platinum different from metals whose demand is concentrated more heavily in one category.
Why Does the Platinum Price Change?
Platinum prices can move because of changes in both investment demand and physical demand.
Important factors include:
- Automotive demand
- Industrial production
- Jewelry demand
- Mine supply
- Recycling
- Investor buying and selling
- Currency movements
- Interest rates
- Global economic conditions
- Supply disruptions
Automotive demand is especially important because platinum is used in catalytic systems.
This means a change in vehicle production, emissions technology, or the mix of vehicle powertrains can influence platinum demand.
Platinum vs Gold Price
Platinum and gold are both precious metals, but their markets are different.
At the reference prices used around September 2026, platinum was trading substantially below gold.
For comparison, Reuters reported spot gold at $4,312.59 per ounce on September 14, while platinum fell 1.6% that day.
Kitco’s September 13 platinum reference was $1,792 per ounce.
This does not mean platinum must always remain cheaper than gold.
Historically, the relative prices of the two metals have changed substantially. Kitco notes that platinum traded above gold for much of the 2000s but has generally traded below gold during many later periods.
Platinum vs Silver Price
Platinum is also considerably more expensive per ounce than silver at the reference prices in September 2026.
For example, Forbes reported silver at $62.70 per ounce on September 14, 2026, while the platinum reference price was $1,792 per ounce.
Price per ounce alone, however, does not determine whether one metal is a better investment.
Each metal has different supply, demand, industrial uses, liquidity, and market behavior.
Platinum Price History
Platinum has experienced significant price cycles over the years.
Kitco identifies an historical all-time high near $2,300 per ounce during the March 2008 spike.
More recently, platinum has also experienced large movements. Reuters reported platinum at approximately $1,906.20 per ounce on September 9, 2026, before it declined in the following days.
On September 10, Reuters reported platinum falling to approximately $1,791.13, followed by a move back to around $1,792.11 on September 11.
This illustrates why a “platinum price today” article needs a clear date and timestamp.
Is Platinum a Good Investment?
Platinum can provide exposure to a precious metal with significant industrial demand, but it is not a guaranteed investment.
Its price can rise or fall sharply.
If you are considering physical platinum, look beyond the headline spot price and compare:
- Dealer premium
- Buyback price
- Product purity
- Coin or bar type
- Dealer reputation
- Shipping
- Insurance
- Storage
- Taxes
- Liquidity
The spread between what you pay and what a dealer will pay you later can materially affect your result.
This article provides market information, not personalized investment advice.
How to Calculate Platinum Value
You can calculate the approximate metal value of platinum using this formula:
Platinum value = weight in troy ounces × current spot price × purity
For example, suppose you have 2 troy ounces of 950 platinum and use the $1,792 spot reference:
2 × $1,792 × 0.95 = $3,404.80
That is an estimated metal value before dealer premiums, jewelry workmanship, or other costs.
For grams:
Platinum value = grams ÷ 31.1034768 × spot price × purity
Platinum Price Calculator Examples
Using the $1,792 reference price:
| Amount | 999 Pure Platinum | 950 Platinum |
|---|---|---|
| 1 gram | $57.61 | $54.73 |
| 5 grams | $288.07 | $273.67 |
| 10 grams | $576.14 | $547.34 |
| 20 grams | $1,152.28 | $1,094.67 |
| 1 troy oz | $1,792.00 | $1,702.40 |
| 100 grams | $5,761.41 | $5,473.34 |
| 1 kg | $57,614.14 | $54,733.43 |
These figures represent estimated metal value at the reference spot price. Physical platinum products can carry additional premiums.
What Is the Platinum Bid and Ask Price?
The bid is the price associated with the market’s buying side, while the ask is the price associated with the selling side.
Kitco’s September 13 quote showed:
Bid: $1,792
Ask: $1,802
The $10 difference represents the displayed spread between those two quoted prices.
This is important when researching the actual cost of buying or selling platinum.
A physical dealer can have a different spread because its retail price also includes its own costs and margin.
What Should You Check Before Buying Platinum?
Before buying physical platinum in the USA, check the following:
Purity
Investment platinum is commonly .9995 fine. Jewelry may use 950 platinum.
Weight
Confirm whether the product is measured in grams or troy ounces.
Premium
Compare the retail price with the current spot price.
Buyback Policy
A dealer offering a competitive purchase price may have a different buyback price.
Product Recognition
Recognized mints and refiners can make resale easier.
Shipping and Insurance
A low advertised price can become less attractive after delivery and insurance charges.
Storage
A large physical platinum position requires appropriate secure storage.
Platinum Price Per Ounce USA FAQs
What is the platinum price per ounce in the USA?
The latest clearly timestamped reference used in this guide is $1,792 per troy ounce, based on Kitco’s September 13, 2026 spot bid.
How much is platinum per gram?
At $1,792 per troy ounce, platinum is approximately $57.61 per gram.
How much is 1 kg of platinum worth?
At the same reference price, one kilogram of pure platinum has a spot value of approximately $57,614.
Is platinum priced by a regular ounce?
No. Precious metals are normally quoted using the troy ounce, which equals approximately 31.1035 grams.
Is platinum more expensive than gold?
Not necessarily. At the September 2026 reference prices, gold was substantially more expensive per ounce than platinum. However, the relationship between the two metals changes over time.
Why is physical platinum more expensive than the spot price?
Physical products can include manufacturing, refining, distribution, dealer, shipping, and other premiums.
What is 950 platinum worth?
At a $1,792 pure-platinum spot price, the theoretical metal value of one troy ounce of 950 platinum is approximately $1,702.40. Kitco provides the same purity calculation on its platinum price page.
Does platinum price change every day?
Yes. Platinum trades in global markets and its quoted price can change throughout trading sessions.
Final Platinum Price Guide
The platinum price per ounce in the USA is approximately $1,792 per troy ounce based on the latest clearly timestamped Kitco reference used for this article.
That equals roughly $57.61 per gram and $57,614 per kilogram at the same spot price.
For physical platinum, remember that the spot price is only the starting point. Coins, bars, and jewelry can sell above their calculated metal value because of premiums and other costs.
Price checked: September 15, 2026. Reference market quote: September 13, 2026. Platinum prices are volatile and can change during global market hours.