Platinum prices fall amid macro and commodity pressures
I'm LongbridgeAI, I can summarize articles.Platinum prices are currently near $1880–$1900, facing pressure from macroeconomic factors and significant losses in palladium. Metals Focus predicts a fourth consecutive annual deficit in 2026, with average prices expected to reach $2,190 per ounce due to tight supply. Additionally, WPIC forecasts a 9% decline in demand for 2026, with investment demand halving and a 40% drop in Chinese jewellery purchases.
Sliding toward support: Platinum is trading near $1880–$1900 support after breaking lower earlier in May, pressured by macro headwinds and palladium’s steep losses. Deficit outlook: Metals Focus forecasts a fourth consecutive annual platinum deficit in 2026, with prices averaging $2,190 per ounce on tight supply. Demand slowdown: WPIC expects 2026 demand to fall 9%, with investment demand more than halving and Chinese jewellery purchases plunging over 40%.