Platinum Prices Surge as South African Strike Looms
Platinum prices spiked to $1,452 an ounce after the South African union representing workers at the world’s top three platinum mines called for a strike, affecting roughly 70,000 miners. The supply scare has pushed investors into platinum, driving the metal to its highest level since November.
Platinum prices spiked to $1,452 an ounce after the South African union representing workers at the world’s top three platinum mines called for a strike, affecting roughly 70,000 miners. The supply scare has pushed investors into platinum, driving the metal to its highest level since November.
Short‑term demand pressure from the impending strike is likely to keep platinum prices elevated, potentially supporting higher spot and futures levels. Traders should monitor strike developments and any production disruptions for further upside.