Bearish
Platinum prices remain near multi-month lows amid Middle East tensions
Over the past 24 hours, platinum prices have remained near multi-month lows, trading below $1,620 per ounce. This decline is attributed to escalating Middle East tensions, which have heightened inflation concerns, and softer-than-expected U.S. consumer and producer inflation data, leading markets to scale back expectations of a near-term Federal Reserve rate hike.
Key points
- Platinum futures traded below $1,620 an ounce, pressured near their lowest levels since late November, as escalating tensions in the Middle East kept inflation concerns in focus.
- Softer-than-expected U.S. consumer and producer inflation data prompted markets to scale back the likelihood of a near-term Federal Reserve rate hike, supporting demand for non-yielding assets.
- The platinum market also draws support from a tight supply outlook as the World Platinum Investment Council continues to forecast a fourth consecutive market deficit in 2026, with demand expected to outpace supply and above-ground inventories projected to remain near historically low levels.
Sources
AI-generated from public news sources. Not financial advice.
