Platinum Rises Over 4%

Platinum futures rose more than 4% to above $1,730 an ounce, attempting to rebound from a six-month low as precious metals broadly advanced after renewed hopes for a Middle East peace deal eased inflation concerns. US President Donald Trump said a deal could be reached as early as this weekend after postponing planned attacks against Iran. This could potentially reopen the Strait of Hormuz and would likely push oil prices lower, reducing inflation pressures from energy and easing pressure on central banks to raise rates. Still, traders remained cautious, as even a breakthrough would take time to fully restore oil flows. 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 industrial demand from the automotive sector remains resilient.

Platinum decreased to 1656.00 USD/t.oz, the lowest since December 2025. Over the past 4 weeks, Platinum lost 21.93%, and in the last 12 months, it increased 32.75%.

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.