Platinum Soars to All-Time High Amid US Economic Uncertainty, Dollar Weakness
Share Market
C
CNBC Awaaz•23-01-2026, 11:49
Platinum Soars to All-Time High Amid US Economic Uncertainty, Dollar Weakness
- •Spot platinum prices surged to an all-time high of $2,684.43 per ounce on Friday, January 23.
- •The rally is attributed to investors seeking safe-haven assets due to growing economic and policy uncertainty in the US.
- •Analysts like Kyle Rodda from Capital.com note declining confidence in US assets is driving money into precious metals.
- •A weaker dollar, which slipped about 1% this week, made dollar-denominated platinum more attractive to foreign buyers.
- •Uncertainty surrounding Donald Trump's trade signals and expectations of US interest rate cuts in late 2026 also supported the rally.
Why It Matters: Platinum hit a record high as US economic uncertainty and a weaker dollar drove investors to safe-haven assets.
✦
More like this
Loading more articles...
