---
title: "Platinum Stays Near Multi-Month Lows"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/292974943.md"
description: "Platinum futures traded below $1,620/oz near multi-month lows. Middle East tensions and US-Iran strikes boosted oil prices, fueling inflation concerns. However, softer US inflation data reduced expectations for immediate Fed rate hikes, supporting non-yielding assets. Additionally, a tight supply outlook with forecasted deficits through 2026 provides fundamental support to the platinum market."
datetime: "2026-07-17T02:24:08.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/292974943.md)
  - [en](https://longbridge.com/en/news/292974943.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/292974943.md)
generator: "portal-rs"
---

# Platinum Stays Near Multi-Month Lows

Platinum futures traded below $1,620 an ounce, pressured near their lowest levels since late November, as escalating tensions in the Middle East kept inflation concerns in focus.

The US launched multiple strikes against Iran this week and reinstated a blockade on the Strait of Hormuz, while Tehran retaliated with attacks on US bases in neighboring countries.

The renewed conflict sent oil prices sharply higher, reinforcing expectations that persistent energy supply disruptions could stoke inflation.

Meanwhile, softer-than-expected US consumer and producer inflation data prompted markets to scale back the likelihood of a near-term Federal Reserve rate hike, supporting demand for non-yielding assets.

The platinum market also draws support from a tight supply outlook as the World Platinum Investment Council continues to forecast a fourth consecutive market deficit in 2026, with demand expected to outpace supply and above-ground inventories projected to remain near historically low levels.

### Related Stocks

- [USO.US](https://longbridge.com/en/quote/USO.US.md)
- [PPLT.US](https://longbridge.com/en/quote/PPLT.US.md)
- [GLTR.US](https://longbridge.com/en/quote/GLTR.US.md)
- [SCO.US](https://longbridge.com/en/quote/SCO.US.md)
- [PLTM.US](https://longbridge.com/en/quote/PLTM.US.md)
- [BNO.US](https://longbridge.com/en/quote/BNO.US.md)
- [UCO.US](https://longbridge.com/en/quote/UCO.US.md)

## Related News & Research

- [Oil edges up on uncertainty over exports through Hormuz](https://longbridge.com/en/news/296282399.md)
- [Oil extends climb on prolonged Hormuz export uncertainty](https://longbridge.com/en/news/296302371.md)
- [Oil set for second weekly rise as unsettled US-Iran war crimps supply](https://longbridge.com/en/news/296555193.md)
- [Euro zone bonds join global selloff, yields hit multi-year highs](https://longbridge.com/en/news/296188704.md)
- [Surging energy prices push inflation up to highest level since March](https://longbridge.com/en/news/296311603.md)

---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**