Platinum Futures Sink to 6-Month Low

Platinum futures plunged to around $1,760 an ounce, hitting their lowest level since December 2025, as rising inflation risks stemming from Middle East tensions weighed on precious metals. Iran launched multiple waves of missiles toward Israel over the weekend as a warning against further military actions in Lebanon, casting doubt on a fragile US–Iran ceasefire as peace talks remain stalled. The prolonged conflict and continued disruptions in the Strait of Hormuz have disrupted energy supplies from the Persian Gulf, pushing oil prices higher and intensifying global inflation concerns. This reinforced expectations of tighter monetary policy, further amplified by stronger-than-expected US employment data. Meanwhile, platinum’s downside was partly cushioned by a widening supply deficit, with the World Platinum Investment Council projecting a fourth consecutive annual shortfall in 2026, driven by constrained production from major producers and resilient industrial demand.