Platinum Steadies After Fed Decision
Platinum steadied above $1,670 per ounce, trading sideways so far this month as the US Federal Reserve delivered a widely expected quarter-point rate cut and signaled a less hawkish policy path ahead. Chair Jerome Powell indicated that further hikes are unlikely and reaffirmed confidence in US economic momentum, though the Fed projected only one rate cut next year versus market expectations for two. The metal remained near its highest level in more than a decade, supported by optimism over a potential recovery in Chinese demand following the launch of a physically settled platinum contract on the Guangzhou Futures Exchange. Looking ahead, the World Platinum Investment Council forecasts a 2025 deficit of 69,200 ounces, marking a third consecutive annual shortfall, while expecting the market to move broadly into balance in 2026 with a modest surplus of about 20,000 ounces.
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