2026.04.3000:59:59UTC+00Platinum Futures Hit 1-Month Low

Platinum futures fell to around $1,900 an ounce, a four-week low, amid a broad sell-off in precious metals as surging energy prices linked to the prolonged closure of the Strait of Hormuz intensified inflation concerns. The United States has maintained its naval blockade on Iran until a new nuclear agreement is reached, while Tehran has accused Washington of leveraging economic pressure and political divisions to force compliance. The extended conflict in the Middle East and disruptions along this critical shipping corridor have increased inflationary risks, reinforcing expectations that major central banks may need to keep monetary policy tighter for longer. In the United States, the Federal Reserve left interest rates unchanged, as widely anticipated, and underscored the uncertainty stemming from the Iran-related tensions. Despite the recent pullback in prices, the platinum market remains structurally tight, with output in South Africa and Russia—the world’s two largest producers—still constrained by aging mines, elevated costs, and sanctions.