Platinum is up by 5.35%

Platinum futures rose toward $2,000 an ounce, sustaining its rebound from a one-month low hit on April 29, as precious metals broadly advanced amid signs of de-escalation in the Middle East conflict. Oil prices retreat after the US announced an end to offensive operations against Iran, reaffirmed the ceasefire, and temporarily paused efforts to assist stranded vessels leaving the Strait of Hormuz. However, restrictions on shipping to and from Iranian ports remain in place, maintaining disruptions to trade and energy flows. While the partial de-escalation improved risk sentiment, expectations that central banks may keep interest rates higher for longer due to lingering inflation risks remains. Meanwhile, the platinum market remains structurally tight, with output concentrated in South Africa and Russia, making production highly vulnerable to disruption. In South Africa, aging mines and high power costs continue to limit growth, while Russia faces sanctions-related constraints.

Platinum increased 5.35% to 2002.2 USD/t.oz

Platinum increased 5.01% to 1995.9 USD/t.oz