Couverture de Platinum Dips 2.6% but Still Shines with 109% Annual Gains as Dollar Flexes and Fed Talks Tough

Platinum Dips 2.6% but Still Shines with 109% Annual Gains as Dollar Flexes and Fed Talks Tough

Platinum Dips 2.6% but Still Shines with 109% Annual Gains as Dollar Flexes and Fed Talks Tough

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This is your Daily Platinum Price Tracker with Vanessa Clark podcast.

Hey friends, welcome to another episode of Daily Platinum Price Tracker with Vanessa Clark. I'm your host Vanessa, and today we're diving into the latest on platinum prices, what's driving the market, and some smart tips to help you navigate this shiny commodity like a pro.

As of this morning at 8:30 a.m. Eastern Time, spot platinum is trading at $2,072.63 per ounce. That's down $55.39 or about 2.6 percent from yesterday's $2,128.02, and it's slipped around 9 percent from a month ago when it was over $2,274. But hold on, over the past year, platinum has rocketed up more than 109 percent from just $987 an ounce. Fortune reports this pullback comes amid a broader precious metals sell-off, fueled by a stronger US dollar and hawkish Fed signals, like no more quick rate cuts and President Trump's nomination of Kevin Warsh as Fed chair. Trading Economics notes prices dipped to around $2,058 today but are still up huge yearly, with supply tight from South African mines, which produce about 70 percent of the world's platinum.

Demand stays strong in autocatalysts for cars and as an inflation hedge, though some substitution to palladium is happening with high prices. Sibanye Stillwater's CEO says expect short-term volatility but no return to last year's lows, thanks to ongoing supply deficits.

Here's your takeaway, pals: Platinum's a solid diversifier, especially cheaper than gold at $5,013 an ounce right now. If you're investing, consider ETFs or bullion for easy entry, but cap it at 15 percent of your portfolio to manage swings from industrial demand. Watch for support around $2,000, and if you're buying, narrow spreads signal good liquidity.

Thanks for tuning in, friends. Subscribe, share with a buddy eyeing precious metals, and catch you next time on Daily Platinum Price Tracker!

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