Platinum Heads for Weekly Loss After Sharp Rally Reverses, Palladium Also Weaker

Published: Sep 11, 2026 16:03 (GMT+8)

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[SMM Flash] Platinum was heading for a weekly decline on September 11 after sharp volatility during the week, while palladium was also on course for a weekly loss. Umicore's indicative platinum price rose from US$1,848/oz on September 8 to US$1,922/oz on September 9, before falling to US$1,827/oz on September 10, reversing almost US$100/oz in one day. Reuters reported that precious metals faced pressure as stronger US producer-price data reinforced expectations for higher interest rates, while geopolitical tensions and oil prices above US$100/bbl added uncertainty to the inflation outlook.

The reversal highlights continued short-term volatility in the PGM complex despite tight platinum above-ground inventories. Platinum prices remain sensitive to changes in the US dollar, interest-rate expectations and investment flows, alongside underlying PGM supply-demand fundamentals. The week's movements also underline the growing divergence between short-term macro-driven trading and the longer-term structural factors supporting platinum.

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