Platinum Pulls Back Amid Trade Optimism

2025-10-27 16:16 By Dongting Liu 1 min. read

Platinum hovered around $1,590 per ounce, retreating from its mid-October peak of $1,722, as easing US-China trade tensions drove markets to ease exposure to safe-haven assets.

US President Donald Trump stated that the US and China are close to a trade agreement, after senior officials reached a preliminary consensus in Malaysia on the framework for an upcoming meeting in South Korea.

Nonetheless, platinum has gained nearly 50% this year, outperforming gold and silver, driven by supply shortages, steady industrial demand, and investors seeking protection in uncertain markets.

The market is also reassessing the metal, as platinum is the latest precious metal to experience a price surge and squeeze fears.

China is expected to phase out a long-standing platinum tax rebate for China Platinum Co. starting November 1, potentially opening the market to new entrants.

Meanwhile, expectations for a 25-bp Fed rate cut on Wednesday were reinforced by weaker-than-expected September inflation.



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