Platinum Futures Rebound

Platinum futures climbed above $1,780 an ounce, rebounding from a recent six-month low as precious metals rallied after the US and Iran reached a tentative peace agreement that would reopen the Strait of Hormuz. The deal is set to be signed in Switzerland on June 19 and reportedly includes the lifting of blockades, sanctions relief for Iran, and the dismantling of Tehran’s nuclear program. Oil prices declined to a two-month low following the announcement, easing concerns over rising inflation and the prospect of interest rate hikes that have weighed on non-yielding metals. 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.

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%.