FX.co ★ Platinum Jumps Over 3%

Platinum futures saw an increase of over 3%, reaching approximately $2,370 per ounce, as prices attempted to near all-time highs amid a broad rally in precious metals. This surge reflects heightened demand for safe-haven assets due to geopolitical tensions in Iran, where unrest has resulted in significant casualties. Meanwhile, global focus turned to U.S. President Trump's international maneuvers, such as the removal of Venezuela’s President Nicolás Maduro and discussions regarding the potential acquisition of Greenland. Concurrently, the slower-than-anticipated growth in U.S. employment during December, despite a steady unemployment rate, heightened expectations of Federal Reserve interest rate cuts, thereby boosting demand for non-yielding assets like platinum. The metal now approaches its late-December high of $2,478.50, driven by increased global risk sentiment and the persistent appetite for precious metals as a form of investment protection.