23.02.202603:14:11UTC+00Platinum Hits Three-Week High

Platinum futures advanced toward $2,200 an ounce, reaching a three-week high, as renewed tariff uncertainty and persistent geopolitical tensions bolstered demand for safe-haven metals. President Donald Trump increased global tariffs from 10% to 15% after the US Supreme Court struck down a significant portion of his earlier trade measures, heightening concerns over potential disruptions to global trade. Reflecting rising frictions, Europe’s trade chief signaled he may suspend ratification of a US deal, while India postponed interim trade talks. Even so, US Trade Representative Jamieson Greer stated that existing agreements with China, the EU, Japan, and South Korea remain in place.

Geopolitical risk further underpinned the rally, driven by worries over possible US military action against Iran amid stalled nuclear negotiations, despite plans for diplomats to reconvene in Geneva later this week. Platinum prices also remained elevated in historical terms, supported by ongoing supply constraints—especially from South Africa—while demand continues to be anchored by its critical role in automotive catalytic converters.