Platinum Climbs to Over 2-Month High

2026-08-19 15:15 By Larissa Caser 1 min. read

Platinum futures rose above $1,800 per ounce, reaching a more than two-month high, as a drop in bond yields from multi-year highs boosted the appeal of non-yielding metals.

The US Treasury announced it will increase its buyback operations, pushing borrowing costs lower and boosting demand for non-yielding metals.

On the supply side, concerns over power disruptions and maintenance bottlenecks at South African mines continued to underpin prices, with the platinum market expected to remain in deficit.

Meanwhile, AI and data-center expansion are emerging as potential new sources of demand, with South Africa’s Valterra Platinum estimating AI-related demand could grow fivefold by 2030.

Still, uncertainty over shipments through the Strait of Hormuz kept industrial buyers cautious.

Rising hybrid vehicle production has provided near-term support for autocatalyst consumption, although markets remain cautious about the broader shift toward EVs, which rose for a fifth consecutive monthly in July.



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