Platinum Soars to All-Time High Amid US Uncertainty, Safe Haven Demand
Commodity
M
Moneycontrol•23-01-2026, 11:49
Platinum Soars to All-Time High Amid US Uncertainty, Safe Haven Demand
- •Platinum prices reached an unprecedented high of $2,684.43 per ounce, driven by increased investor demand for safe haven assets.
- •Geopolitical tensions and uncertainty surrounding the US economic and policy direction fueled the rally in precious metals.
- •Analysts, including Kyle Rodda of Capital.com, noted a weakening confidence in US assets, pushing investments towards hard assets like platinum.
- •A weaker US dollar, hovering near a two-week low, made dollar-priced metals more appealing to international buyers, further supporting platinum's rise.
- •Despite platinum's gains, palladium saw a decline, while investors continued to monitor US interest rate outlooks for non-yielding assets.
Why It Matters: Platinum hit a record high due to US economic uncertainty and strong safe haven demand from investors.
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