21.08.202603:44:49UTC+00Platinum Hits 11-Week High

Platinum futures rose above $1,870 an ounce to an eleven-week high, supported by a weaker US dollar and renewed interest in precious metals. The greenback came under pressure amid mounting concerns over the US fiscal outlook and doubts about the effectiveness of the Treasury’s expanded bond-buyback program, which many investors regard as unlikely to deliver a durable reduction in borrowing costs.

Earlier declines in bond yields also bolstered demand for non-yielding assets, while expectations that the Federal Reserve may leave interest rates unchanged in September added further support for precious metals. Platinum prices were additionally underpinned by a tight global supply–demand balance, as persistent market deficits and historically low inventories constrained available supply.

At the same time, ongoing geopolitical tensions in the Middle East and elevated oil prices continued to stoke inflationary pressures and economic uncertainty, reinforcing the appeal of precious metals as a hedge.