Platinum Hits 17-1/2-year High

Platinum futures dropped below $1,900 an ounce, hitting their lowest level since December 2025, as profit-taking, weaker industrial demand, and improved supply conditions weighed on prices. Following a strong rally in late 2025 and early 2026, investors have begun locking in gains, triggering a sharp correction. Investment demand is expected to drop by up to 52% due to ETF outflows and weaker retail interest, particularly in China, while automotive demand is also set to decline as the shift to electric vehicles reduces the need for catalytic converters. Although the market remains in deficit, the shortfall is expected to narrow due to increased recycling supply, particularly in Europe. Platinum also tracked broader weakness across precious metals amid the ongoing Middle East war. This comes as a stronger US dollar and rising bond yields reduce the appeal of non-yielding assets, while persistent inflation concerns raised expectations for tighter monetary policy from major central banks.

Platinum decreased to 2010.00 USD/t.oz, the lowest since February 2026. Over the past 4 weeks, Platinum lost 2.69%, and in the last 12 months, it increased 99.4%.

Platinum decreased 5% to 2029.6 USD/t.oz