Platinum Prices

Platinum prices averaged USD 1,616 per troy ounce in July, down 7.0% from June. On 31 July, the commodity traded at USD 1,626 per troy ounce, up 3.8% from 30 June.

Average platinum prices fell in July, extending losses as expectations of higher-for-longer U.S. interest rates weighed on non-yielding precious metals. Soft automotive demand and rising recycling supply added pressure. Still, prices recovered at end-July to above end-June levels thanks to softer-than-expected U.S. inflation data, while constrained mine supply and low inventories continued to provide a price floor.