Platinum falls below $1,820 an ounce toward one-week low
Platinum fell below $1,820 an ounce and moved toward its lowest level in a week, as investors weighed prospects for monetary tightening and near-term investment flows. The World Platinum Investment Council revised its 2026 forecast to a surplus and projected total demand to fall 18%.
Platinum slipped below $1,820 an ounce and was heading toward a one-week low, with near-term investment flows still driving the market. The World Platinum Investment Council cut its 2026 outlook to a market surplus, with total demand projected to fall 18%. The council said Chinese jewelry demand dropped 32% and automaker demand fell 6%. Heightened uncertainty from the conflict in the Middle East has lifted expectations for tighter policy across major economies.
The ECB raised rates at its September meeting, while higher US producer inflation pushed investors to price a Fed rate hike next week. Industrial demand continues to offer some support over the longer term, helped by the rapid build-out of artificial intelligence.