Platinum is up by 5.01%

Platinum increased 5.01% to 1995.9 USD/t.oz

Platinum futures dropped to around $1,900 an ounce, hitting a four-week low amid a broader sell-off in precious metals, as surging energy costs tied to the prolonged closure of the Strait of Hormuz intensified inflation concerns. The US has maintained its naval blockade on Iran until it agrees to a nuclear deal, while Tehran accused Washington of using economic pressure and political divisions to force compliance. The prolonged Middle East conflict and disruptions to the key shipping route heightened inflation risks, prompting expectations that major central banks may need to maintain tighter monetary policy for longer. In the US, the Fed Reserve kept policy unchanged as expected, highlighting uncertainty stemming from the Iran conflict. Despite the price dip, the platinum market remains structurally tight, as production in South Africa and Russia, the two largest suppliers, faces ongoing challenges, including aging mines, high costs, and sanctions.

Platinum decreased to 1908.00 USD/t.oz, the lowest since March 2026. Over the past 4 weeks, Platinum gained 0.2%, and in the last 12 months, it increased 98.46%.