FX.co ★ Platinum Holds Losses on Easing Haven Demand

In mid-August, platinum futures remained steady around $1,330 per ounce, reflecting recent declines as advancements in peace negotiations between Ukraine and Russia lessened the metal's appeal as a safe-haven asset. Earlier this week, U.S. President Donald Trump engaged in discussions with European leaders regarding security assurances for Ukraine, also revealing his conversations with Russian President Vladimir Putin and efforts to facilitate a direct meeting with Ukraine's President Volodymyr Zelenskiy, followed potentially by a trilateral summit. Concurrently, investor attention is shifting towards the Federal Reserve’s upcoming annual Jackson Hole symposium later this week. Global policymakers at the event are expected to deliberate on labor market conditions and the future trajectory of monetary policy. Nonetheless, concerns about supply continue to provide underlying support to platinum prices. Persistent disruptions in South Africa's mining sector, due to adverse weather conditions and shortages of essential resources such as power and water, are anticipated to cause a 4% reduction in the 2025 production level from the previous year, while limited recycling efforts further tighten supply constraints.