Gold vs Platinum: performance comparison
Over the 12 months to Oct 5, 2026, gold returned +5.4% and platinum +4.4%. This page puts the two side by side on the same dates — current prices, performance charts rebased to 100, returns from one month to five years, volatility, the deepest falls and how closely the two move together — recalculated daily from closing prices.
Gold/platinum ratio: 1 oz of gold buys 2.4 oz of platinum
Performance, rebased to 100
Both lines start at 100 on the first shared date: a value of 150 means +50% since then.
- Gold+5.4%
- Platinum+4.4%
- Gold+136.6%
- Platinum+67.3%
Returns
| Period | Gold | Platinum | Better |
|---|---|---|---|
| 1 month | -6.4% | -6.3% | Platinum |
| 3 months | +0.5% | +4.6% | Platinum |
| 6 months | -10.6% | -12.8% | Gold |
| Year to date | -3.5% | -16.1% | Gold |
| 1 year | +5.4% | +4.4% | Gold |
| 3 years | +125.4% | +97.0% | Gold |
| 5 years | +136.6% | +67.3% | Gold |
Price returns between closing prices on the same dates for both assets; dividends and interest are not included. All prices are in US dollars. Data to Oct 5, 2026.
Risk
| Measure | Gold | Platinum |
|---|---|---|
| Volatility, 1 year (annualized) | 29.2% | 56.4% |
| Volatility, 5 years (annualized, weekly) | 17.3% | 33.9% |
| Deepest fall, 5 years | -23.4%Feb 2026 – Jul 2026 | -41.5%Jan 2026 – Jul 2026 |
| Correlation, 1 year (daily returns) | 0.73 | |
| Correlation, 5 years (weekly returns) | 0.58 | |
Volatility is the annualized standard deviation of returns — higher means bigger swings. The deepest fall is the largest drop from a previous high. Correlation runs from −1 (opposite moves) through 0 (unrelated) to +1 (in lockstep).
What the numbers say
Over five years (Oct 2021 to Oct 2026), gold returned +136.6% and platinum +67.3%. Gold came out ahead over both one and five years.
Annualized volatility over the past year: Gold 29.2%, Platinum 56.4% — platinum was about 1.9× as volatile. Deepest fall over the period: Gold -23.4% (Feb 2026 – Jul 2026), Platinum -41.5% (Jan 2026 – Jul 2026).
The correlation of their daily returns over the past year was 0.73. That is a strong positive link: they have tended to move together. Over five years of weekly returns it was 0.58.
Past performance does not predict future returns.
Key differences
- Demand: platinum's biggest use is industrial — above all catalytic converters — while gold is mainly held as a store of value, in jewellery and by central banks.
- Supply: far less platinum than gold is mined each year, and around 70% of it comes from South Africa; gold mining is spread across many countries.
- Price history: platinum traded above gold for much of the 2000s but has traded well below it since 2015, as demand for diesel cars weakened.
- Gold/platinum ratio: the ratio shown above tells you how many ounces of platinum one ounce of gold buys.
The two assets
Gold
Gold is priced worldwide in US dollars per troy ounce (here: COMEX front-month futures). It pays no income, so its return comes only from price changes, which tend to respond to real interest rates, the US dollar, central-bank buying and demand for a safe haven in times of stress.
Gold chart and analysis →Platinum
Platinum is a rare precious metal whose largest use is in catalytic converters for vehicles, alongside jewellery and industry. Around 70% of mined supply comes from South Africa, so mining conditions there can move the price.
Platinum chart and analysis →Frequently asked questions
Which performed better over the past year, gold or platinum?
Gold. In the 12 months to Oct 5, 2026, gold returned +5.4% and platinum +4.4%, a difference of 1.0 percentage points. Past performance does not predict future returns.
Which performed better over the past five years, gold or platinum?
Gold. From Oct 2021 to Oct 2026, gold returned +136.6% and platinum +67.3%. Past performance does not predict future returns.
Which is more volatile, gold or platinum?
Platinum — about 1.9 times as volatile as gold. Annualized volatility over the past year: Gold 29.2%, Platinum 56.4%. Deepest fall over five years: Gold -23.4%, Platinum -41.5%.
Do gold and platinum move together?
A strong positive link: they have tended to move together. The correlation of their daily returns over the past year was 0.73, on a scale from −1 (opposite moves) to +1 (moving in lockstep). Over five years of weekly returns it was 0.58.
How we calculate
Both series are aligned on the trading days (or weeks) they share, so every return covers the same dates for both assets. Periods up to one year use daily closes; three and five years use weekly closes. Volatility is the annualized standard deviation of log returns, the deepest fall is measured on weekly closes, and correlation is the Pearson coefficient of returns over identical intervals. Data: Yahoo Finance and OKX, refreshed daily. All prices are in US dollars.