Platinum (XPL) trades near $1,790 after failing to break above the key resistance at $1,900 as higher U.S. interest rates and a strong US dollar limit the recovery. In my view, platinum may retest $1,700 in the coming weeks before attempting another rally, while a break above $1,900 could open the way towards $2,200. This article examines the macro drivers, long-term price structure, U.S. dollar relationship and key levels that may shape the next move in platinum.
Platinum Price Forecast: Hawkish Fed Caps Rebound as Dollar Rises
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Platinum holds near $1,790 as a hawkish Fed and firm dollar cap the rebound, with $1,700 support and $1,900 resistance set to define the next move.