Platinum Prices man

Platinum prices averaged USD 2,141 per troy ounce in February, down 11.3% from January. On 27 February, the commodity traded at USD 2,366 per troy ounce, up 2.9% from 30 January.

Platinum reversed the strong gains it recorded in January, as average prices fell at the fastest pace among precious metals in February. The fall was driven by profit-taking after the huge rally in previous months, as well as Middle Eastern tensions raising fears over industrial demand. Strong U.S. labor market data likely further weighed on prices due to the potential for slower-than-expected interest rate cuts. Thin trading conditions due to public holidays in key Asian markets amplified the downturn.