Platinum Breaks $2,300 Record as Global Tensions Fuel Safe-Haven Demand

• Platinum prices surged over 3% to a new all-time high of $2,378 an ounce on Wednesday, marking its 10th consecutive day of gains.
• The rally is driven by renewed geopolitical tensions (US-Venezuela), a weaker US dollar, tight supply, and rising investment demand.
• Concerns over potential US tariffs and improved European demand for catalytic converters also contribute to platinum's rise.
• Supply disruptions in South Africa have led to a third consecutive annual deficit, further tightening the market.
• Palladium, gold, and silver also saw significant rallies, with platinum outperforming gold in 2025 and silver leading all metals with a 150% surge.

Why It Matters: Precious metals surge as geopolitical risks, weak dollar, and supply deficits fuel demand.