Bullish
Platinum prices surge 3.25% to $1,695.40 amid easing Treasury yields and oil prices.
In the past 24 hours, platinum prices have risen by 3.25%, reaching $1,695.40 per ounce. This uptick is attributed to a significant decline in U.S. Treasury yields and a decrease in oil prices, both of which have bolstered the appeal of precious metals. Additionally, the World Platinum Investment Council (WPIC) forecasts a market surplus in 2026, with total demand expected to fall by 18%, including a 32% drop in Chinese jewelry demand and a 4% decline in automotive demand.
Key points
- Platinum prices rebound from a nine-week low, closing at $1,695.40, up 3.25%.
- WPIC forecasts a 265,000-ounce surplus in 2026, with total demand expected to decline by 18%.
- A state-owned firm in Zimbabwe plans to develop a mining project in Darwendale next year, with an estimated 44 million ounces of platinum-group metals.
Sources
- Platinum - Price - Chart - Historical Data - NewsTrading Economics · October 10, 2026
- Platinum Rebounds from Multi-Month LowsTrading Economics · October 9, 2026
- Platinum Market Seen Surplus as Investment Demand WeakensInvesting.com · September 9, 2026
- Platinum's First Surplus Since 2022 Hides a Return to Deficit, WPIC SaysMetalsCost News · September 9, 2026
AI-generated from public news sources. Not financial advice.
