Platinum Hits Fresh 11-Month Low

Platinum futures fell below $1,530 an ounce, reaching their lowest level since late November 2025 as a broader market selloff, concerns over prolonged high interest rates, and weak fundamentals weighed on prices. The Federal Reserve is widely expected to leave interest rates unchanged this week, although elevated energy prices are still prompting bets on a hike before year-end. Higher borrowing costs reduce the appeal of non-yielding metals such as platinum. Persistent concerns over AI-related investment spending have also fueled volatility in equity markets, prompting investors to liquidate assets to cover losses elsewhere. Meanwhile, the platinum market also faces fundamental headwinds, with the World Platinum Investment Council forecasting a 265,000-ounce surplus in 2026. Total demand is projected to decline 18%, while automotive demand is expected to fall 4%. Industrial demand, however, is forecast to rise 5%, offering some support but doing little to offset the broader weakness.