Platinum slips below $1,850 to over one-week low
Platinum futures traded below $1,850 per ounce, reaching a more-than-one-week low as near-term investment flows weigh despite stronger industrial demand. Hawkish Fed Chair Warsh remarks and Middle East strikes supported expectations of a rate hike.
Platinum futures traded below $1,850 per ounce,reaching a more than one-week low as near-term investment flows continue to influence prices despite stronger industrial demand.
Hawkish statements from Fed Chair Warsh and fresh strikes in the Middle East supported expectations of a Fed rate hike, weighing on the non-yielding metal.
Still, volatile fuel costs and tight supplies linked to the Middle East conflict are encouraging countries to reduce exposure to fossil-fuel price volatility, supporting demand for hybrid vehicles, which use autocatalysts.
Additionally, Hyundai's plans to introduce 10 new hybrid models in North America further supports demand for the metal.
The World Platinum Investment Council forecasts industrial demand to increase 9% in 2026, while emerging applications in hydrogen technologies, chips and AI data-centers could provide additional long-term demand.
The metal also remains supported by a persistent supply deficit, limiting available metal.