Platinum surges 4.5% amid weakening US dollar 📈

Platinum prices surge today amid weakening US dollar index (USDIDX), positive sentiments across precious metals and overall risk-appetite across the traders strategies. The platinum price is now in strong, medium term uptrend however if 1:1 price action pattern will happen again, the $1415-1420 may be very important resistance zone.

If we look back, in 2020 platinum surged by the very similar scale starting from $780 to almost $1350. In 2025 price surged from $900 to $1415 per ounce now. However, as for now we are observing very high demand from jubilees as platinum products improve business margins amid sky-high spot gold prices.

Source: xStation5

Source: xStation5

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