FX.co ★ Platinum Approaches One-Week Highs

Platinum prices have remained steady at approximately $1,570 per ounce, approaching their highest point in a week. This stability is due to weak economic data from the United States, which has strengthened the likelihood of an interest rate cut by the Federal Reserve in December. The combination of weak retail sales, underwhelming employment figures, and dovish statements from the Fed has led markets to anticipate a third rate decrease this year. In 2025, platinum has witnessed a notable increase of nearly 70%, driven by significant safe-haven demand and a consistently tight supply-demand balance. According to the latest quarterly report from the World Platinum Investment Council (WPIC), there is a projected supply deficit for 2025 of 692,000 ounces, equating to roughly 9% of the annual demand. However, forecasts for 2026 suggest a shifting landscape, with supply constraints expected to ease slightly, potentially creating a modest surplus of about 20,000 ounces.