2025.08.1807:45:42UTC+00Platinum Pulls Back from 2-Week High

Platinum futures declined to below $1,330 per ounce on Monday, stepping back from a recent two-week high as diminishing geopolitical and trade worries reduced the demand for safe-haven assets. Market participants shifted their attention to an upcoming meeting between US President Donald Trump and European leaders, which aims to further peace efforts with Russia. Although Trump's Friday discussions with Russian President Vladimir Putin did not achieve a ceasefire agreement, there was an accord allowing the US and Europe to provide Ukraine with security assurances within a potential resolution framework. On the trade front, the US has struck deals with key global economies to avert the implementation of severe tariffs, thereby alleviating investor anxieties. Despite these factors, platinum prices continue to find support amid ongoing structural supply issues. Consistent disruptions in South African mining operations, such as heavy rainfall and shortages of power and water, are anticipated to lead to a 4% reduction in output for 2025 compared to the previous year, alongside continued subdued recycling efforts that further constrict supply.