Platinum price rises to 4-year high – Commerzbank
The price of Platinum continued to soar at the start of the new trading week and broke through the $1,200 per troy ounce mark for the first time in four years on Monday, Commerzbank's commodity analyst Carsten Fritsch notes.
Platinum price continues to soar
"The price is currently trading even higher at around $1,270. The Platinum price is up 27% since 20 May and 40% since the beginning of the year. This means that the Platinum price has risen even more than the gold price, which has ‘only’ risen by 27% since the beginning of the year."
"At the beginning of April, shortly after the announcement of reciprocal tariffs by US President Trump, Platinum briefly fell back to $900. The price explosion came largely as a surprise. The physical Platinum market has been tight for years without the price being able to benefit from this, apart from brief price spikes that never lasted long."
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FXStreet Insights Team
FXStreet
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