Bearish
Platinum price drops 5% to $1,798.96 amid unexpected surplus forecast
In the past 24 hours, platinum's price declined by approximately 5%, reaching $1,798.96, following the World Platinum Investment Council's (WPIC) revision of its 2026 outlook from a projected shortage of 297,000 ounces to a surplus of 265,000 ounces. This shift is primarily attributed to a significant reduction in investment demand, which was cut by about 601,000 ounces, while industrial and jewelry demand remain relatively stable.
Key points
- WPIC's 2026 outlook revised from a 297,000-ounce shortage to a 265,000-ounce surplus.
- Industrial and jewelry demand remain relatively stable despite the surplus forecast.
- Investment demand for platinum decreased by approximately 601,000 ounces.
Sources
AI-generated from public news sources. Not financial advice.
