Platinum Hits Near 13-Year High
2025-10-06 07:03
By
Jam Kaimo Samonte
1 min. read
Platinum rose above $1,620 per ounce on Monday, its highest level since February 2013, supported by safe-haven demand and ongoing supply constraints.
Investors turned to precious metals amid the continuing US government shutdown and growing expectations of further Federal Reserve rate cuts.
Markets are now nearly fully pricing in a quarter-point cut this month and another in December.
Demand from jewelry and investors also remains strong, though the shift toward electric vehicles is expected to curb the need for automotive catalytic converters.
On the supply side, platinum production has fallen about 16% from its 2021 peak due to higher operating costs, underinvestment, and declining ore grades.
The World Platinum Investment Council (WPIC) expects persistent annual supply deficits through 2029, averaging roughly 620,000 ounces, or about 8% of global demand.