Weekly Special Report: Platinum

PLATINUM USE AND MARKET SHARE

• PLATINUM has been a key element in auto catalysts for over forty years, especially for diesel engines, and is increasingly vital in hydrogen fuel cells. The automotive sector is its largest consumer, accounting for about 40% of annual demand.
• MARKET SHARE (CONSUMERS): China is the world's largest platinum consumer, with 34%, while Europe holds 22%, and North America holds 16% of the platinum consumed worldwide.

GEOPOLITICS: WAR IN THE MIDDLE EAST

• BREAKING (MAY 7): THE U.S. AND IRAN HAVE MOVED CLOSER TO A POTENTIAL DEAL, with Iran expected to respond as early as Thursday, May 7. Trump said talks were “very good” over the past 24 hours and that a deal could come quickly, possibly before his China visit. According to the Wall Street Journal, both sides are working on a one-page, 14-point MOU framework to end the conflict and ease tensions around the Strait of Hormuz.
• BREAKING (MAY 6): U.S. PRESIDENT TRUMP ANNOUNCED THE SUSPENSION OF "PROJECT FREEDOM". U.S. officials adopted a more de-escalatory tone after Secretary of State Marco Rubio declared Operation Epic Fury concluded. Defense Secretary Pete Hegseth said a transit route through the Strait of Hormuz had been secured, with hundreds of commercial ships waiting to pass. Meanwhile, General Dan Caine, Chairman of the Joint Chiefs of Staff, said Iranian attacks on U.S. forces had not reached the threshold required to resume major combat operations.   

GEOPOLITICS: U.S – CHINA SUMMIT

• THURSDAY AND FRIDAY, MAY 14 AND MAY 15: U.S. PRESIDENT TRUMP AND CHINA PRESIDENT XI SUMMIT IN CHINA. The markets will closely watch the upcoming summit in China between U.S. President Trump and China President Xi, which could lead to further de-escalation of trade tensions.

EVENTS:

• FRIDAY, MAY 8 AT 13:30 GMT+1: U.S. NONFARM PAYROLLS (NFP) AND UNEMPLOYMENT RATE (APRIL). Nonfarm Payrolls measures the change in the number of people employed during the previous month, excluding the farming industry. A weaker-than-expected payroll report and a rising unemployment rate would highlight a softening U.S. labor market, increasing expectations for further Federal Reserve rate cuts.
• SATURDAY, MAY 9 AT 04:00 GMT+1: CHINA TRADE BALANCE IN CHINA (APRIL): A stronger-than-expected trade surplus, particularly if driven by resilient industrial demand and imports, could reinforce expectations of steady Chinese platinum demand, and it could support platinum prices.
• MONDAY, MAY 11 AT 02:30 GMT+1: CHINA INFLATION (CPI) (APRIL) (PREVIOUS: +1%).
• TUESDAY, MAY 12, 2026 AT 13:30 GMT+1: U.S. INFLATION (CPI) (APRIL). The report measures monthly and annual inflation. A lower-than-expected reading could soften inflation pressures and increase expectations for near-term Federal Reserve rate cuts.
• MONDAY, MAY 18 AT 03:00 GMT+1: CHINA INDUSTRIAL PRODUCTION (APRIL) (PREVIOUS: +5.7%).

TECHNICAL ANALYSIS

• UPTREND. Since December 2025, platinum price has rebounded several times from the strong support area. In mid-March this year, another rebound occurred, and since then, the price has remained in an uptrend (green trendline).
• SUPPORT AREA: $1800 – $1650. The zone represents next support area for Platinum prices.
• PRICE ACTION: Platinum price hit an all-time high of $2,920 (January 26, 2026). Platinum price currently trades at around $2,095, and if a full recovery takes place, then platinum prices could see an upside of around 39%. However, it could also decline.

GRAPH (Daily): December 2023 - April 2026

Please note that past performance does not guarantee future results

Platinum, May 7, 2026
Current Price:  2,095

Example of calculation based on weekly market trend for 1.00 Lot¹

1. The above calculations are made based on 1.00 lot which is equivalent of 100 units
2. Calculations for exchange rate used as of 11:00 (GMT+1) 07/05/2026

You can use risk management tools such as Stop-Loss and Take-Profit.