Please note that this website is not intended for EU residents. If you are located in the EU and wish to open an account with an EU investment firm and protected by EU laws, you will be redirected to Huaprime EU Ltd, a company licensed and regulated by the Cyprus Securities and Exchange Commission with licence no. 426/23.
Tags: Gold, Platinium, Precious Metal, Silver
Platinum prices retreated towards $1,000 per troy ounce after hitting a one-month peak of $1,030 on July 5th. The decline aligns with a broader pullback in precious metals markets, as investors weigh industrial demand against potential Federal Reserve policy shifts.
Downward pressure on platinum prices stems from several factors. China, the world’s largest platinum consumer, saw its NBS manufacturing PMI indicate contraction in factory activity for two consecutive months at the end of Q2, signaling weakening demand. Additionally, the growing market share of electric vehicles in major global markets is reducing the need for platinum in catalytic converters for internal combustion engines.
Despite these bearish signals, platinum prices find some support from expectations that the Federal Reserve may begin lowering interest rates in September. The anticipated policy shift continues to bolster precious metals markets overall.
In addition, gold fell below $2,360 per ounce Tuesday, while silver rebounded to around $31, partially recovering from previous losses.
(Platinum Weekly Chart)
(Gold Weekly Chart)
(Silver Weekly Chart)
Disclaimer
Comments, news, research, analysis, price, and all information contained in the article only serve as general information for readers and do not suggest any advice. Ultima Markets has taken reasonable measures to provide up-to-date information, but cannot guarantee accuracy, and may modify without notice. Ultima Markets will not be responsible for any loss incurred due to the application of the information provided.
Ultima Markets, dünya çapında yaygın emtialar için en rekabetçi maliyet ve değişim ortamını sağlar.
Ticarete BaşlaHareket halindeyken piyasayı izleme imkanı
Piyasalar arz ve talepteki değişimlere duyarlıdır
Sadece fiyat spekülasyonu ile ilgilenen yatırımcılar için çekici
Derin ve çeşitli likidite ile gizli ücretler yok
Dealing desk yok ve yeniden fiyatlandırma yok
Equinix NY4 sunucusu üzerinden hızlı yürütme