“Platinum prices spiked up during May, reaching an intraday high of $1,104.80 on 23 May. This was the highest level that platinum prices had reached since May 2024, when all precious metals rose alongside gold – which at the time was surging to new record highs.
The rise in platinum prices during May 2025 was driven by an increase in platinum imports into China and some incorrectly calculated supply demand statistics that suggest market deficits into the foreseeable future.”
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