FX.co ★ Platinum Rises Over 4%

Platinum futures climbed more than 4% to above $1,730 an ounce, rebounding from a six‑month low as precious metals broadly advanced on renewed optimism over a potential Middle East peace agreement, which helped ease inflation concerns. US President Donald Trump indicated that a deal could be reached as early as this weekend, after he postponed planned military strikes on Iran. Such an agreement could potentially reopen the Strait of Hormuz, likely driving oil prices lower, reducing energy‑driven inflationary pressures, and in turn lessening the need for central banks to raise interest rates.

Nonetheless, traders remained cautious, noting that even a diplomatic breakthrough would take time to fully restore oil flows. At the same time, the platinum market itself remains structurally tight. The World Platinum Investment Council forecasts a fourth consecutive annual supply deficit in 2026. Production in key supplier countries, notably South Africa and Russia, continues to be constrained by aging mines, elevated operating costs, and disruptions linked to sanctions, while industrial demand—particularly from the automotive sector—has stayed robust.