Platinum futures held near $1,620 an ounce, staying near their lowest since November 2025 as precious metals broadly weakened amid renewed US-Iran tensions. The US launched a fresh wave of strikes against Iran and revoked a license allowing the country to sell oil following recent attacks on ships transiting the Strait of Hormuz. The renewed escalation threatened the interim US-Iran peace deal, drove oil prices higher, and raised concerns that persistent inflation could keep interest rates elevated, weighing on non-yielding assets. However, downside pressure was limited by expectations of a fourth consecutive annual platinum market deficit, as South African mine output remains constrained and recycled supply stays subdued. The World Platinum Investment Council also projects above-ground stocks to fall to just 2.3 million ounces, less than three months of global demand, while strong investment demand and continued substitution for palladium in autocatalysts provide additional support.
Platinum rose to 1,633.60 USD/t.oz on July 9, 2026, up 2.88% from the previous day. Over the past month, Platinum's price has fallen 3.39%, but it is still 16.73% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Platinum reached an all time high of 2923.70 in January of 2026. Platinum - data, forecasts, historical chart - was last updated on July 9 of 2026.
Platinum rose to 1,633.60 USD/t.oz on July 9, 2026, up 2.88% from the previous day. Over the past month, Platinum's price has fallen 3.39%, but it is still 16.73% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Platinum is expected to trade at 1711.61 USD/t oz. by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1963.98 in 12 months time.