Platinum prices fell under pressure intraday, while spot market consumption recovered slightly, with normal transactions [SMM Daily Review]

Published: Jul 9, 2026 12:06

Save

Platinum prices were in the doldrums today. On the macro front, the release of the US Fed minutes was interpreted as hawkish by the market. Combined with repeated US-Iran tensions during the week, this pushed up oil prices while increasing concerns about Fed interest rate hikes. In the morning session, the most-traded GFEX platinum contract PT2608 closed at 394.95 yuan/g, down 2.46%. The inverted spread between the best ask price of platinum 9995 on the Shanghai Gold Exchange (SGE) and GFEX PT2608 remained at around 6 yuan/g. Spot market, mainstream platinum quotations were at a discount of 0.5 yuan/g to a premium of 1 yuan/g against the PT2608 contract. The discount in mainstream quotations narrowed slightly compared to the previous trading day. Suppliers' quotations were mainly on par with or at a slight premium to the most-traded GFEX contract. Downstream buyers made just-in-time procurement as futures prices declined. Overall transactions in the platinum spot market were normal today.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Common.Time.hoursAgo

Platinum and Palladium Market Price Review and Expectations Brief Review (July 9, 2026) [SMM Platinum and Palladium Weekly Review]

Common.Time.hoursAgo

Jul 8, 2026 14:16

Geopolitical concerns resurface, platinum consolidates, spot market consumption remains poor [SMM Daily Review]

Jul 8, 2026 14:16

Jul 8, 2026 10:59

US Launches Punitive Strikes on Southern Iran, Escalating Tensions in Middle East

[SMM Precious Metal Express] Multiple locations in southern Iran came under US strikes again, with the US military saying it launched a series of "punitive strikes" in response to attacks on merchant vessels in the Strait of Hormuz, adding that the operation "will not end soon." The Middle East situation has escalated sharply.

Jul 8, 2026 10:59