Platinum hits record high on tight supply, EU combustion-engine ban reversal

Ingots of 99.98 percent pure platinum are placed in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS
Dec 26 (Reuters) – Platinum jumped to an all-time high on Friday, on track for its biggest annual rise ever, as supply constraints, an unexpected EU policy U-turn on the 2035 combustion-engine ban, and shifting investor flows out of gold fuelled the rally.
Platinum prices rose 8% to an all-time high at $2,413.62 per ounce by 0304 GMT.

Reporting by Sherin Elizabeth Varghese in Bengaluru

 

Share this post :

Facebook
Twitter
LinkedIn
Pinterest