Platinum Prices Pulled Back Significantly Intraday, Spot Discounts Narrowed with Normal Trading Volume [SMM Daily Review]

Published: Feb 5, 2026 12:09

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Platinum prices retreated significantly today. The most-traded platinum contract PT2606 on the Guangzhou Futures Exchange closed at 533.9 yuan per gram, down 9.05%. In the spot market, spot platinum was offered at a discount of 1-5 yuan per gram against PT2606, or at a discount of 12-16 yuan per gram against the Gold Exchange. The sell1-PT2606 spread on the Gold Exchange remained inverted. Spot discounts narrowed compared with yesterday and further converged as prices retreated during the morning session on the Guangzhou Futures Exchange. Regarding spot transactions, according to SMM, some traders reported tight supply of spot platinum. End-users made just-in-time procurement, and their willingness to restock increased. Overall market transactions were normal.

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