On this page you will find the live platinum spot price in Canadian dollars, an interactive CAD price chart, year by year price history, the premiums Canadian dealers charge over spot, and a straight answer on whether platinum can go in your RRSP.

Platinum Price Chart in Canadian Dollars

Pick a period below. Pull the range out to five years or more and you can see the long flat stretch that defined platinum for most of the last decade, followed by the move that began in 2025.

Source: LBMA Platinum Price converted at Bank of Canada daily rates. The CAD series begins in January 2017, when the Bank of Canada current daily USD/CAD series starts.

Platinum Price History in Canada by Year

Annual platinum prices in Canadian dollars per troy ounce. Read the average column from top to bottom and the story tells itself: eight years of going almost nowhere, then a step change.

• Platinum in CAD is up roughly 34% over twelve months and about 93% over five years.
• From 2017 through 2024 the annual average never left a band between roughly $1,138 and $1,366. Eight years, essentially flat.
• The 2026 high of $3,852 has since given way to about $2,474, leaving platinum roughly 36% below its peak.

Gold to Platinum: The Ratio That Flipped

For most of the twentieth century platinum traded at a premium to gold. It was the rarer metal, the harder one to mine, the one used in the jewellery you bought when gold was not special enough. That relationship broke in 2015 and has not recovered.

I have watched people call platinum cheap on this basis every year since about 2016, and for eight of those years they were wrong. The ratio is a description of market preference, not a spring that must snap back. What changed in 2025 was not the ratio argument, it was physical supply tightening at the same time as investment demand arrived. If you want the other side of that comparison, our live palladium spot price page covers the metal that went the opposite direction.

What Actually Drives the Platinum Price

Platinum is an industrial metal that happens to be precious, and the balance of its demand looks nothing like gold's.

• Autocatalysts. Roughly a third of demand. Platinum dominates diesel emissions systems, and has been substituting back into gasoline catalysts as palladium became expensive.
• Jewellery. Concentrated in China, Japan and India, and highly price sensitive. Demand tends to rise when platinum is cheap relative to gold.
• Industrial and chemical. Glass manufacturing, petroleum refining catalysts, medical devices and laboratory equipment.
• Hydrogen. Proton exchange membrane electrolysers and fuel cells both use platinum. This is the demand story people argue about most, and it is real but still small relative to autocatalysts.
• Supply concentration. South Africa produces roughly 70% of the world's mined platinum. Power interruptions, shaft closures and labour disputes there move the price more reliably than anything on the demand side.

That last point deserves weight. When you buy platinum you are taking a concentrated position on the operating reliability of a handful of South African mining complexes. The World Platinum Investment Council publishes quarterly supply and demand balances worth reading before you commit real money, and the LBMA sets the twice daily benchmark that this page converts into Canadian dollars using the Bank of Canada rate.

What You Will Pay Over Spot in Canada

Platinum is a thinner retail market than gold or silver, and the premiums reflect that. Fewer dealers stock it, fewer buyers want it back, and the bid ask spread is wider in both directions.

Buyback is the part people underestimate. A dealer who quotes you a tight premium on the way in may be noticeably less enthusiastic when you want to sell, simply because platinum sits on the shelf longer than gold. Ask about the buyback spread before you buy, not after. Verifying what you are actually holding matters more in a thinner market too, and our guide on avoiding precious metals fraud applies directly. Dealers who handle platinum properly are a smaller group, and Worldwide Precious Metals is one of the Canadian options worth comparing.

Platinum, Tax and Your RRSP: Read This Before You Buy

This is the section that catches Canadians out, and the rules are not the same as they are for gold and silver.

That second row is worth repeating because it is widely misstated online. If you want platinum exposure inside a registered account, you need a security rather than metal: a platinum ETF, or a producer equity. We cover the alternatives in including other precious metals in your RRSP, the mechanics of the fund route in how to invest in precious metals ETFs in Canada, and the equity angle in mining stocks. You will need a self directed brokerage to hold any of them, and our Questrade review walks through the account setup.

Platinum Price Frequently Asked Questions (FAQs)

More Questions About Buying Platinum in Canada