Platinum Extends Slide

2026-06-10 03:18 By Joshua Ferrer 1 min. read

Platinum futures fell further below $1,700 an ounce, hitting their lowest level since late November 2025 as precious metals broadly weakened amid renewed Middle East tensions.

The US launched fresh strikes against Iran following the downing of an American helicopter, pushing oil prices higher and stoking inflation concerns.

The escalation has raised doubts over a fragile ceasefire and broader peace prospects, while the near-closure of the Strait of Hormuz persists.

Higher energy costs have intensified inflation fears and the risk of further central bank tightening, weighing on non-yielding assets.

Meanwhile, the platinum market remains structurally tight, with the World Platinum Investment Council projecting a fourth consecutive annual supply deficit in 2026.

Output from major producers South Africa and Russia remains constrained by aging mines, high costs, and sanctions-related disruptions, while automotive demand is supported by hybrid vehicle growth and stricter emissions standards.



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Platinum Extends Slide
Platinum futures fell further below $1,700 an ounce, hitting their lowest level since late November 2025 as precious metals broadly weakened amid renewed Middle East tensions. The US launched fresh strikes against Iran following the downing of an American helicopter, pushing oil prices higher and stoking inflation concerns. The escalation has raised doubts over a fragile ceasefire and broader peace prospects, while the near-closure of the Strait of Hormuz persists. Higher energy costs have intensified inflation fears and the risk of further central bank tightening, weighing on non-yielding assets. Meanwhile, the platinum market remains structurally tight, with the World Platinum Investment Council projecting a fourth consecutive annual supply deficit in 2026. Output from major producers South Africa and Russia remains constrained by aging mines, high costs, and sanctions-related disruptions, while automotive demand is supported by hybrid vehicle growth and stricter emissions standards.
2026-06-10
Platinum Holds at 6-Month Low
Platinum futures held around $1,760 an ounce, staying at their lowest level since December 2025, pressured by broader weakness across precious metals despite a halt in Middle East tensions. Israel and Iran both agreed to halt mutual attacks after an earlier escalation in hostilities, raising hopes of a possible restart of talks toward a broader ceasefire agreement in the region. However, the crucial Strait of Hormuz remained effectively closed, keeping energy supplies constrained and global inflation risks in focus. A stronger dollar and elevated Treasury yields also weighed on non-yielding metals after robust US jobs data reinforced bets that the Federal Reserve could raise interest rates by year-end. Meanwhile, platinum’s downside was partly cushioned by a widening supply deficit, with the World Platinum Investment Council projecting a fourth consecutive annual shortfall in 2026, driven by constrained production from major producers, while industrial demand remained resilient.
2026-06-09
Platinum Futures Sink to 6-Month Low
Platinum futures plunged to around $1,760 an ounce, hitting their lowest level since December 2025, as rising inflation risks stemming from Middle East tensions weighed on precious metals. Iran launched multiple waves of missiles toward Israel over the weekend as a warning against further military actions in Lebanon, casting doubt on a fragile US–Iran ceasefire as peace talks remain stalled. The prolonged conflict and continued disruptions in the Strait of Hormuz have disrupted energy supplies from the Persian Gulf, pushing oil prices higher and intensifying global inflation concerns. This reinforced expectations of tighter monetary policy, further amplified by stronger-than-expected US employment data. Meanwhile, platinum’s downside was partly cushioned by a widening supply deficit, with the World Platinum Investment Council projecting a fourth consecutive annual shortfall in 2026, driven by constrained production from major producers and resilient industrial demand.
2026-06-08