S&P 500 — US Large Cap Index
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IPC Index — Mexico Market
Platinum futures traded around $1,600 an ounce, near late-November lows, pressured by weakness across precious metals amid persistent hostilities in the Middle East. The conflict kept inflation risks in focus and reinforced expectations that interest rates could stay higher for longer, weighing on non-yielding assets such as platinum. Investors now await the Federal Reserve’s policy decision, where rates are widely expected to remain unchanged. Still, markets see about a one-third chance of a rate hike this week and roughly an 80% chance of another increase in September. The platinum market was also weighed down by expectations for softer industrial and automotive demand despite the tight supply outlook. The ongoing shift toward electric vehicles, which do not require autocatalysts, has clouded demand prospects even as the platinum market is forecast to post a fourth straight annual supply deficit due to constrained mine supply and declining above-ground inventories.
