Platinum Prices

Platinum prices averaged USD 963 per troy ounce in November, down 3.6% from October. On 29 November, the commodity traded at USD 940 per troy ounce, down 5.5% from 31 October.

Platinum prices dipped from October’s average in November, as Trump’s reelection in the U.S. tempered market expectations for Fed monetary easing. Moreover, weaker global car demand, a ceasefire in Lebanon, a stronger greenback and a month-on-month rise in U.S. treasury yields weighed on investor sentiment. Additionally, news that top supplier Zimbabwe plans to ramp up production next year dented prices further. That said, an escalation in the Russia-Ukraine war capped the downturn.