Platinum Pauses Below $1,540 After 14-Year High

2025-10-17 10:27 By Dongting Liu 1 min. read

Platinum fell below $1,540 an ounce, as investors paused to consolidate gains after the metal surged to a 14-year high of $1,744 on October 16.

Platinum prices have surged nearly 70% in this year, driven by persistent US-China trade tensions, ongoing geopolitical tensions, and robust market expectations of upcoming Federal Reserve rate cuts.

Meanwhile, demand remains robust, driven by automotive catalytic converters—especially in hybrid vehicles—expanding hydrogen fuel cell use, and a 137% year-on-year jump in Chinese platinum jewelry demand in Q2 2025.

On the supply side, South Africa, the world’s top producer, faced flooding, aging infrastructure, and limited processing capacity, with August PGM output down 3% year-on-year.

The World Platinum Investment Council (WPIC) forecasts a third consecutive annual supply deficit in 2025, estimated at 850,000 ounces.



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