Platinum Hits 4-week Low

Platinum decreased to 1914.00 USD/t.oz, the lowest since April 2026. Over the past 4 weeks, Platinum lost 2.18%, and in the last 12 months, it increased 79.71%.

Platinum futures traded around $1,950 an ounce, hovering near three-week lows as heightened uncertainty in the Middle East kept inflation risks elevated. Even as negotiations proceeded, US forces conducted strikes in southern Iran in what it described as defensive actions, dimming hopes of a potential peace deal. This sent oil prices higher, fueling inflation concerns and reinforced expectations that central banks could maintain tighter monetary policy for longer. Meanwhile, platinum draws support from its favorable supply-demand outlook. Strong demand from China, particularly following the launch of a new domestic platinum futures contract, has reinforced investor interest in the metal. The market also remains structurally tight, with output in major suppliers South Africa and Russia constrained by aging mines, high operating costs, and sanctions-related challenges. Expectations of solid industrial demand from the automotive sector, further added support.

Platinum futures rose to above $1,950 an ounce, attempting to rebound from a three-week low as signs of progress in US-Iran negotiations eased concerns about inflation and further interest rate hikes. Reports indicated that the proposed deal could reopen the Strait of Hormuz, raising hopes that energy supply disruptions may ease. However, President Donald Trump said the US would keep its blockade of the key waterway in place until a formal agreement is finalized. Meanwhile, platinum continued to draw support from its favorable supply-demand outlook. Strong demand from China, particularly following the launch of a new domestic platinum futures contract, has reinforced investor interest in the metal. The market also remains structurally tight, with output in major suppliers South Africa and Russia constrained by aging mines, high operating costs, and sanctions-related challenges. Expectations of solid industrial demand from the automotive sector, further added support.