The year 2025 is written in golden letters in the history of commodity markets. Generally, Indian investors look to gold and silver as safe investments and this year is nothing short of a lottery for them. While gold returned 78% on MCX and the price was Rs. 1.33 lakh, while silver also surged by 144 percent to Rs. 2 lakh mark was crossed. But, in this market gloom, there are two metals that have stealthily filled investors’ coffers. We are talking about platinum and copper, whose growth has surpassed even major analysts’ estimates.
Platinum becomes the new king of the market
Platinum, which often pales in comparison to the glitter of gold and silver, has proved to be this year’s ‘dark horse’. The year 2025 saw a historic rise in platinum prices. Platinum, which was below $1,000 an ounce at the beginning of the year, soon surpassed the $2,300 level. This metal has given excellent returns of up to 140% to investors.
If we look at the numbers, this is the biggest annual increase in platinum since 1987. Its prices have been rising for 10 consecutive sessions, the longest since 2017. Now it is natural to ask why platinum suddenly caught fire? The biggest reason behind this is the production crisis in South Africa. Despite being the world’s largest platinum producer, the supply chain there has been badly affected, causing severe shortages of goods in the market and skyrocketing prices.
Industrial demand and the China game
The reason behind this record rise in platinum is not only investment but also its industrial demand. According to Jigar Trivedi, senior analyst at Reliance Securities, traders are hoarding goods due to fears of tariffs or trade restrictions in the US. About 6 lakh ounces of platinum are lying in American warehouses.
Apart from this, strong demand from China has also supported the prices. The start of platinum trading on the Guangzhou Futures Exchange and rising demand for its industrial use have sent global markets into a frenzy. The growing use of platinum in the automobile industry and hydrogen fuel cell technology is also increasing investor confidence.
Copper is called the ‘new gold’.
Not only precious metals, but also copper among the base metals has caused a stir this year. It is now being given the title of ‘New Gold’ or ‘New Silver’ in the market. Copper prices crossed a record high of $12,000 a tonne on the London Metal Exchange. This is copper’s best performance since 2009, with returns of more than 35% year-on-year.
The reason for this turbulent rise in copper is its increasing use in AI data centers and electric vehicles (EV). Additionally, disruptions in global supply chains have added fuel to the fire. Accidents at mines in Indonesia and Chile and natural disasters such as floods in the Congo halted production, leading to severe supply shortages in the market. American buyers are also now hoarding copper for fear of paying higher prices in the future.
However, according to a Goldman Sachs report, the situation may return to normal in 2026. It is expected that the increase in supply could stabilize the price between $10,000 to $11,000 per tonne, but until then investors have profited this year.