The platinum guys have been mentioned, but at our North York showroom, the number of people asking to talk to us about platinum has doubled in the last year, which is understandable given what’s going on. As of July 22, 2026, platinum trades at about $2,335 CAD per ounce, more than 126% higher than in 2025 when it broke above US$1,900 an ounce in December.
If you are interested in purchasing platinum in Canada, this guide explains what is fueling the trend and how much it costs, and how it differs from stacking gold or silver.
The Supply Story: Deficits, Not Hype
The core of the platinum case is arithmetic. The market ran a supply deficit for the third straight year in 2025, estimated at 692,000 ounces, and above-ground stocks have been drawn down to only about five months of demand cover. Mines can’t respond quickly. Most platinum comes from a handful of South African and Russian operations, and history shows both platinum supply and demand can be remarkably price inelastic over near- to medium-term horizons. In plain terms, higher prices don’t summon new ounces for years.
Demand has help from an unexpected direction. Roughly 80% of platinum group metal demand comes from the automotive sector, where the metal scrubs emissions in combustion engines, and sentiment shifted as expectations for electric vehicle growth were modestly downgraded. China added a second engine: a rebound in Chinese jewellery buying, plus the launch of physically backed platinum futures on the Guangzhou Futures Exchange, has drawn physical metal into the country and supported prices.
What the Forecasters Actually Disagree About
Others are cooler. BMO Capital Markets expects platinum to average around US$1,375 an ounce in 2026 and remains more constructive on gold and silver. One CME Group analysis even projects a roughly balanced 2026 market with a small surplus, driven partly by profit-taking from ETF holders selling into strength. After a 126% year, a pullback is a genuine possibility, not a footnote. Nobody rings a bell at the top, and we won’t pretend otherwise.
What Platinum Costs a Canadian Buyer
At roughly $2,335 CAD spot, one ounce of platinum costs less than half an ounce of gold at $5,812. That gap is itself part of the investment thesis for some buyers: platinum spent years trading above gold and now trades at a deep discount to it. Whether that gap closes is a possibility, not a promise, but it means a meaningful platinum position is accessible at a fraction of gold’s entry point.
Expect to pay a premium over spot, and expect it to be proportionally higher than on gold. Platinum is a thinner retail market with fewer refiners and lower minting volumes, so fabrication costs spread across fewer ounces. We won’t print an exact premium here because platinum premiums move quickly with availability; check the live price against spot on our platinum category page, both updated in real time.
As a worked example of the maths: if a 1 oz bar were listed at 6% over a $2,335 spot, you’d pay about $2,475, and you’d want the buy-back spread to be similarly tight when you eventually sell. That spread, buy price versus sell price, matters more in platinum than in gold, so ask us for both numbers before you commit. We quote them plainly.
Bars or Coins, and What We Stock
The format question works the same as in gold and silver, with a thinner menu:
- Platinum bars: the efficient route. We stock .9995 fine bars including the 1 oz Credit Suisse bar with matching serial-numbered assay card and the 10 oz PAMP Suisse Fortuna bar for larger positions. Lower premium per ounce, ideal for pure metal exposure.
- Platinum coins: government-minted, easier to sell in single ounces. The RCM’s Platinum Maple Leaf is the natural choice for Canadian buyers, and we also carry the American Platinum Eagle, including fractional sizes like the 1/4 oz for smaller budgets.
- Fractionals: flexibility at a cost. Premiums on fractional platinum run noticeably higher per ounce, so they suit buyers who value divisibility over efficiency.
A note on purity and tax (taxonomically). Investment-grade platinum at .9995 fine is considered to be of a high enough purity to fall into the same tax loophole as pure gold and silver bullion for Canadians. This exemption is a true, periodic exemption over collectibles or lower purity items and is available for bars and coins above.
How Platinum Fits Next to Gold and Silver
Platinum is not an equivalent to gold; it is not the same thing. The reasons why gold trades primarily on monetary factors and platinum trades primarily on industrial factors is a major exposure issue that makes platinum a more volatile commodity in both directions. If the car industry trips over the recession, so does platinum. Hence, most buyers we serve view platinum as an addition to their gold and silver investment and not a replacement.
The liquidity picture is also different and worth stating honestly. Any dealer in the country will quote a Gold Maple Leaf instantly, while platinum products trade in a smaller market with wider spreads. We buy back the platinum we sell, and sticking to recognized names like RCM, PAMP, and Credit Suisse keeps your exit as smooth as possible. Obscure or damaged platinum pieces can be slow to move at fair value anywhere.
The Practical Takeaway
Three consecutive annual shortages of platinum, stockpiles at less than five months of demand cover, and a price that remains significantly below platinum’s per-ounce price are the facts that support the platinum case. The counterweight is equally authentic. Several big banks are calling for a slowdown in the metal’s year-long rally, but it is still possible either direction.
If those fundamentals resonate, then make the initial foray with a known 1 oz. gold bar, or Platinum Maple Leaf, follow up with the premium quoted by the dealer, verify the buy-back quote, and size the position relative to gold and silver, not on one metal.
Feel free to visit our showroom in North York, loc. 1060 Sheppard Ave W to view our platinum bars and coins, or call or WhatsApp 416-928-0707 to get live pricing on any piece before you visit. We have a spot price page for all four metals, which is updated regularly.