Platinum's Technicals Show More Upside, As Valterra Makes A Strong Debut

Platinum prices surged to their highest point in four years, reaching $1,226 per ounce on Tuesday, following substantial gains throughout the second quarter. A sharp market squeeze, driven by a lack of physical supply and growing investor demand for precious metals, is fueling the gains.

"It's supported by a combination of tight supply expectations, improving industrial sentiment, and technical follow-through from the broader precious metals rally," Alexander Zumpfe, a trader at Heraeus Metals Germany, told Reuters.

Physical market tightness has only intensified since the latest U.S. elections. President Donald Trump's re-election drove demand from investors fearing tariffs. Although the metal is now slowly moving back out, borrowing costs remain elevated. One-month lease rates spiked above 13.5% annually, a ...