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Platinum and Palladium Futures Surge Over 8% Today as Liquidity Pressures Ease

GateNews
MetalsCommoditiesForex
XPT-0.26%
XPD-0.16%
According to Jin10 Futures, platinum and palladium futures surged over 8% on August 5 as market sentiment improved. The rally was driven by easing geopolitical tensions, with reports of progress in U.S.-Iran negotiations over the Strait of Hormuz potentially being resolved by Wednesday U.S. time. This lifted crude oil prices sharply lower, improving inflation expectations. Additionally, the U.S. and Japan announced coordinated intervention to support the yen, with both central banks selling dollars and euros to buy yen, putting downward pressure on the dollar index and reducing rate hike expectations amid weak June inflation data.
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