Platinum futures fell more than 3% to around $2,410 per ounce on Thursday, retreating from an all-time high amid a broader pullback in precious metals. The decline followed US President Donald Trump’s latest remarks, in which he ruled out using military force to acquire Greenland and stepped back from proposed tariffs on European nations after announcing a framework for a future deal with NATO, though details of the agreement remain unclear. However, Denmark confirmed it would not negotiate ceding its territory to the US, and the European Parliament suspended approval of the EU–US trade deal reached in July, leaving uncertainty in the background. Meanwhile, platinum remains supported by tight supply and robust demand, particularly from the automotive and hydrogen sectors. Years of underinvestment in mining have left the market vulnerable to disruptions, while stricter emissions standards are boosting platinum use in catalytic converters.
