
Platinum futures held around $1,760 an ounce, staying at their lowest level since December 2025, pressured by broader weakness across precious metals despite a halt in Middle East tensions. Israel and Iran both agreed to halt mutual attacks after an earlier escalation in hostilities, raising hopes of a possible restart of talks toward a broader ceasefire agreement in the region. However, the crucial Strait of Hormuz remained effectively closed, keeping energy supplies constrained and global inflation risks in focus. A stronger dollar and elevated Treasury yields also weighed on non-yielding metals after robust US jobs data reinforced bets that the Federal Reserve could raise interest rates by year-end. Meanwhile, platinum’s downside was partly cushioned by a widening supply deficit, with the World Platinum Investment Council projecting a fourth consecutive annual shortfall in 2026, driven by constrained production from major producers, while industrial demand remained resilient.





