Platinum futures fell below $1,740 an ounce, hitting a two-week low as rising global bond yields and a stronger US dollar weighed across the precious metals complex. The escalating conflict between the US and Iran continued to push oil prices higher, fueling concerns that persistent inflation could prompt the Federal Reserve to raise interest rates this month. The greenback strengthened as markets now see a roughly 70% chance of a September rate hike, up sharply from around 40% a week earlier, while the US 10-year Treasury yield climbed to 4.8%, near a three-year high. Meanwhile, platinum’s mine supply remains constrained, while industrial demand is expected to rise 9% this year to 2.24 million ounces, according to the World Platinum Investment Council. Valterra Platinum highlighted China’s rapidly expanding hydrogen-truck sector as a new demand catalyst, with potential global demand estimated at around 6 million ounces if hydrogen trucks reach a 20% share of the global fleet.