Platinum futures climbed above $1,373 per ounce on Monday, reaching a one-month high as expectations for a US Federal Reserve rate cut boosted demand for precious metals. San Francisco Fed President Mary Daly signaled Friday that the central bank is prepared to lower borrowing costs given labor market risks, while noting that tariff-driven inflation may prove temporary. Markets are now pricing in about an 88% probability of a 25 basis point cut later this month. Supply concerns also lent support, with platinum remaining in deficit for three straight years as demand continues to outpace output. The World Platinum Council projects another shortfall of roughly 848,000 ounces in 2025. On the demand side, the metal remains underpinned by its strategic role in hydrogen fuel cell technology and the global transition toward green energy adoption.
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