Platinum Hits 14-week High

Platinum fell below $1,820 an ounce, moving toward its lowest level in a week, as the metal remained influenced by near-term investment flows while traders assessed prospects monetary tightening across major economies, weighing on demand for the non-yielding metal. The World Platinum Investment Council revised its 2026 market forecast to a surplus, with total demand set to fall 18%, driven by reduced demand for Chinese jewelry, which plunged 32%, and from automakers, which declined 6%. Additionally, heightened economic uncertainty stemming from the conflict in the Middle East has increased expectations of monetary tightening across major economies. The ECB hiked its policy rate at its September meeting, while a rise in US producer inflation led investors to increase bets on a Fed rate hike at its meeting next week, further dampening demand for platinum. In the long term, however, industrial demand provides some support, underpinned by the rapid build-out of artificial intelligence.

Platinum decreased 5.02% to 1822.6 USD/t.oz

Platinum increased to 1922.00 USD/t.oz, the highest since June 2026. Over the past 4 weeks, Platinum gained 9.24%, and in the last 12 months, it increased 37.14%.