2026.06.0903:01:42UTC+00Platinum Holds at 6-Month Low

Platinum futures hovered near $1,760 an ounce, remaining at their lowest level since December 2025, pressured by broad-based weakness across precious metals despite an easing of Middle East tensions. Israel and Iran agreed to halt mutual attacks following an earlier escalation in hostilities, bolstering hopes for renewed negotiations toward a broader regional ceasefire. Even so, the key Strait of Hormuz remained effectively closed, constraining energy supplies and keeping global inflation risks in focus. A stronger US dollar and elevated Treasury yields further weighed on non-yielding metals after robust US employment data reinforced expectations that the Federal Reserve could raise interest rates by year-end. On the other hand, platinum’s losses were partly limited by a widening supply deficit, with the World Platinum Investment Council projecting a fourth consecutive annual shortfall in 2026, driven by constrained output from major producers while industrial demand stays resilient.