Platinum Holds Near November Low
Platinum futures held below $1,540 an ounce, near their lowest level since late November 2025, as investment outflows and a weaker demand outlook weighed on prices. The prolonged Middle East conflict has kept energy prices elevated as risk premiums rise, fueling inflation concerns and raising expectations of more restrictive monetary policy across major economies. Investors now await the Federal Reserve’s decision this week, which is widely expected to keep interests rates rates elevated. Higher borrowing costs reduce the appeal of non-yielding metals such as platinum. At the same time, expensive fuel and costlier auto financing threaten vehicle sales and could curb demand for platinum in catalytic converters. Automotive demand is expected to decline 4%, partly offset by a projected 5% increase in industrial demand. The World Platinum Investment Council also expects a 265,000-ounce surplus in 2026, as weaker investment demand and softer jewelry consumption weigh on the outlook.
Platinum futures held below $1,540 an ounce, near their lowest level since late November 2025, as investment outflows and a weaker demand outlook weighed on prices. The prolonged Middle East conflict has kept energy prices elevated as risk premiums rise, fueling inflation concerns and raising expectations of more restrictive monetary policy across major economies. Investors now await the Federal Reserve’s decision this week, which is widely expected to keep interests rates rates elevated. Higher borrowing costs reduce the appeal of non-yielding metals such as platinum.
At the same time, expensive fuel and costlier auto financing threaten vehicle sales and could curb demand for platinum in catalytic converters. Automotive demand is expected to decline 4%, partly offset by a projected 5% increase in industrial demand. The World Platinum Investment Council also expects a 265,000-ounce surplus in 2026, as weaker investment demand and softer jewelry consumption weigh on the outlook.