24.11.202507:38:53UTC+00Platinum Rises on Fed Rate Cut Bets

Platinum prices surged past $1,520 per ounce, recovering from recent two-month lows. This rally follows dovish remarks from a prominent official at the US Federal Reserve, heightening expectations for a potential rate cut in the coming month. New York Fed President John Williams indicated on Friday that a reduction in rates could soon occur, citing concerns over labor market vulnerability as a more significant threat than increasing inflation. Current market projections suggest a roughly 69% probability of a 25 basis point rate cut in December, a significant rise from 44% the previous week. Despite this, the Federal Reserve’s policymakers remain divided, with Boston Fed President Susan Collins stating that she has yet to make a decision on any policy changes. Platinum has appreciated approximately 70% this year, driven by a combination of safe-haven investments amid limited global supply and robust industrial demand.