Platinum crashes to 2026 lows as rate fears erase its record January rally - Startup Fortune

AI desk brief

Platinum fell as much as 7.7% to around $1,630–$1,650/oz in the reported November selloff, roughly 44% below its January 2026 record; the article attributes broad precious-metals weakness to reduced Fed-cut expectations. Citing secondary coverage of WPIC forecasts, it reports a 2026 balance revision from a 297,000-ounce deficit to a 265,000-ounce surplus, chiefly reflecting a 601,000-ounce investment-demand downgrade. Total demand is forecast to fall 18%, with automotive demand down 4%. Industrial demand is nevertheless forecast to rise 5% to 2.385 million ounces, providing a potential counterweight, though not establishing a near-term price recovery.