LIVE MARKET ALERT Platinum prices advanced to 2,364.6 per ounce, registering an intraday gain of 2.84%. The metal continued to draw strong buying interest, supported by ongoing physical offtake from automotive and industrial sectors. Market participants reported a steady increase in turnover, signaling renewed optimism over the metal's near-term supply dynamics and fabrication demand.
Broader sentiment within the precious metals complex has remained constructive, with investors positioning around potential changes in industrial and emissions-related policies that could influence platinum group metals. Technical momentum further reinforced the upward trajectory, with traders noting sustained support levels holding firm even amid moderate fluctuations in the U.S. dollar.
Key Drivers:
• Higher physical demand from automotive and industrial sectors sustaining intraday momentum.
• Technical consolidation and favorable investor sentiment underpinning upward price action.
This intraday commentary is provided for informational purposes only and does not constitute investment advice. Market conditions and prices are subject to change without notice.
Platinum Extends Gains Amid Firm Industrial Demand
"Platinum rose 2.84% to $2,364.6/oz, driven by strong automotive and industrial demand, firm technical support, and positive sentiment amid stable U.S. dollar conditions."
Broader sentiment within the precious metals complex has remained constructive, with investors positioning around potential changes in industrial and emissions-related policies that could influence platinum group metals. Technical momentum further reinforced the upward trajectory, with traders noting sustained support levels holding firm even amid moderate fluctuations in the U.S. dollar.
Key Drivers:
• Higher physical demand from automotive and industrial sectors sustaining intraday momentum.
• Technical consolidation and favorable investor sentiment underpinning upward price action.
This intraday commentary is provided for informational purposes only and does not constitute investment advice. Market conditions and prices are subject to change without notice.