Platinum Rebounds from Two-Week Low

2026-03-10 09:28 By Joshua Ferrer 1 min. read

Platinum futures rose above $2,200 an ounce, rebounding from a two-week low as risks from the volatile Middle East conflict underpinned demand for safe-haven metals.

Fighting between the US and Israel against Iran entered its 12th day, with the Pentagon reporting some of the heaviest strikes so far and pledging to sustain operations until the Islamic Republic is defeated, contrasting with Trump’s suggestion that the war could end soon.

Meanwhile, the IEA proposed what could be the largest coordinated release of oil reserves in its history to calm markets.

Still, supply concerns persisted as major regional producers curtailed output while the Strait of Hormuz remained effectively closed, keeping investors cautious.

The platinum market remains structurally tight, with limited mine supply growth and expectations of another global deficit this year, while steady demand from the automotive sector for catalytic converters continues to support longer-term consumption.



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