Platinum Futures Rise

2026-07-27 04:52 By Joshua Ferrer 1 min. read

Platinum futures rose to around $1,630 an ounce, tracking strength across the precious metals complex as oil prices dropped following a pause in the US-Iran conflict.

The US suspended its nearly two-week campaign of strikes against Iran beginning late Friday, while Tehran said it had ended its retaliatory strikes and held talks with Oman regarding the Strait of Hormuz.

Still, platinum prices remained near late-November lows due to prospects of higher interest rates and persistent inflation.

The Federal Reserve is widely expected to leave interest rates unchanged at its policy meeting this week, although some believe the central bank could move as early as this meeting.

Prices were also weighed down by expectations for softer industrial and automotive demand despite the tight supply outlook.

The ongoing shift toward electric vehicles, which do not require autocatalysts, has clouded demand prospects even as the platinum market is forecast to post a fourth straight annual supply deficit.



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Platinum Futures Rise
Platinum futures rose to around $1,630 an ounce, tracking strength across the precious metals complex as oil prices dropped following a pause in the US-Iran conflict. The US suspended its nearly two-week campaign of strikes against Iran beginning late Friday, while Tehran said it had ended its retaliatory strikes and held talks with Oman regarding the Strait of Hormuz. Still, platinum prices remained near late-November lows due to prospects of higher interest rates and persistent inflation. The Federal Reserve is widely expected to leave interest rates unchanged at its policy meeting this week, although some believe the central bank could move as early as this meeting. Prices were also weighed down by expectations for softer industrial and automotive demand despite the tight supply outlook. The ongoing shift toward electric vehicles, which do not require autocatalysts, has clouded demand prospects even as the platinum market is forecast to post a fourth straight annual supply deficit.
2026-07-27
Platinum Retreats From 2-Week High
Platinum futures fell below $1,650 an ounce, pulling back from a two-week high reached on July 22 and tracking losses across the precious metals complex as soaring oil prices reinforced expectations for tighter US monetary policy. Markets boosted bets on a Federal Reserve rate hike in September to above 78% after oil prices topped $100 per barrel, as tanker attacks in the Red Sea and ongoing fighting in the Middle East stoked inflation fears. Fresh US tariffs on goods from 60 trading partners added to the uncertain market backdrop. Meanwhile, underlying platinum fundamentals remain supportive, with the market forecast to post a fourth consecutive annual deficit in 2026 as constrained mine supply and declining above-ground inventories outweighed stronger recycling growth. China's industrial policies supporting AI, electric vehicles, and clean energy, together with the launch of the first platinum investment bar series, are also expected to support long-term consumption.
2026-07-24
Platinum Rises Over 2-Week High
Platinum futures traded around $1,610 an ounce, after reaching over a two-week high as gains across precious metals and persistent global supply constraints supported prices. After weeks of heavy losses across the precious metals complex, prices are showing signs of support from bargain hunting, helping offset concerns that rising oil prices could keep US interest rates elevated. At the same time, the platinum market continued to draw support from a tight supply outlook as the World Platinum Investment Council expects a fourth consecutive market deficit in 2026 amid constrained mine supply, elevated energy costs, and higher winter electricity tariffs. China's industrial policies supporting AI, electric vehicles, and clean energy, together with the launch of the first platinum investment bar series, are also expected to support long-term consumption. Meanwhile, Sibanye-Stillwater plans to advance seven PGM mining projects, although production is not expected to begin until next year.
2026-07-22