18.12.202504:37:57UTC+00Platinum Hits Over 17-Year High

Platinum has climbed beyond $1,950 per ounce, marking new highs not seen since 2008, as investors increasingly turn to precious metals in light of ongoing currency debasement concerns. Recent U.S. employment figures have also shown rising unemployment rates, contributing to market unease and bolstering expectations of further interest rate cuts by the Federal Reserve. Moreover, statements from Christopher Waller, a Federal Reserve Governor and a top contender for the Federal Reserve Chair position, have reinforced the surge. Waller hinted at the possibility of U.S. borrowing costs being reduced by as much as one percentage point due to a softening job market. Adding to these dynamics, supply issues have also driven platinum prices higher, as South African mines, the leading global producers, report output below projections. The World Platinum Investment Council predicts a supply shortfall of 69,200 ounces by 2025, marking the third consecutive year of deficit.