Platinum Holds Losses on Easing Haven Demand

Platinum futures hovered near $1,330 per ounce in mid-August, holding recent losses as progress in Ukraine peace negotiations reduced safe-haven demand. On Monday, US President Donald Trump met with European leaders to discuss security guarantees for Ukraine, adding that he had spoken with Russian President Vladimir Putin and was working to arrange a direct meeting between Putin and Ukrainian President Volodymyr Zelenskiy, followed by a potential trilateral summit. Meanwhile, investors are turning their focus to the Federal Reserve’s annual Jackson Hole symposium later this week, where global policymakers will debate labor market conditions and the outlook for monetary policy. Still, supply-side concerns continue to lend support to platinum prices. Ongoing disruptions in South African mining — including heavy rainfall and shortages of power and water — are expected to drive a 4% decline in 2025 output from last year, while subdued recycling keeps supply tight.