Platinum Prices Lowered Below $1,000 As US Dollar Strengthened

Platinum prices moved lower last week, back below $1,000 an ounce, as the dollar strengthened in response to higher interest rates resulting from a record offering of US government debt via the Treasury auction. Yields on one and three-month bills reached levels last seen in 2008, while yields on the US 10-year Treasury bond rose to a four-year high at 2.95%, approaching the psychological 3% level which could spook markets further if breached. Participation in last week’s auction was also light which only exacerbated the situation. Platinum and gold prices remain under pressure on investor fears of a further tightening in interest rates and a strengthening in the dollar, which traded to below $1.226/euro last week from its recent three-year high of $1.255.

Reading Time: 1 minute

Current publications of the Platinum Market Review are free through subscription only.  Click HERE to Subscribe.

Also in this week’s Platinum Market Review:

-Northam Platinum reported a 4.7% increase in equivalent 4E (PGMs + gold) concentrates produced

-Palladium prices continued to climb to over $1,060 an ounce, up $100 an ounce

-Rhodium prices appear firmly embedded on either side of $1,850 an ounce

-Minutes from the most recent Fed meeting

Click HERE to read the February 26, 2018 Platinum Market Review


Material contained in this report is based upon publicly available market data believed to be accurate and reliable and is presented for informational purposes only. KMR assumes no warranty or liability for its completeness, nor guarantees future market performance. Further, KMR assumes no liability for direct or indirect loss or damage from the use of information contained in this report, or from any unforeseen errors or omissions.

Keep Reading
About the author

Patrick Magilligan

PGM sales veteran Pat Magilligan is the Director of PGM Marketing at Key Metal Refining LLC. Magilligan has over three decades of experience in commodities trading, sales, and research, working with the likes of Merrill Lynch, Prudential Securities, and A-1 Specialized Services & Supplies Inc.