Platinum Price Forecast: Fed Rate Hike Bets Pressure $1,500 Support
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Key Points:
- Platinum remains pressured by a strong U.S. dollar, higher yields, and Fed rate hike bets.
- The $1,500 to $1,450 zone remains key, and a breakdown could expose $1,350 and $1,200.
- The 2026 supply deficit supports the long-term outlook, but platinum needs $1,700 to ease bearish pressure.
Platinum (XPL) prices remain weak after the sharp Q2 selloff pushed the market close to the $1,500 support area. In my view, the strong U.S. dollar, higher Treasury yields and rising Fed rate hike expectations may keep the metal under pressure in the short term. This article presents the macro drivers, key price levels and the platinum-to-gold ratio to determine whether prices may rebound from current levels or fall further.