Peter Smith
⬤ Platinum has broken into uncharted territory, with XPTUSD climbing above $2,860 to set a fresh all-time high. The metal has gained roughly 81% over the past three months, marking one of its strongest short-term advances on record. The breakout decisively clears previous long-term peaks and confirms a major shift in market structure.
⬤ Currently trading near $2,864 per ounce, platinum posted a daily gain of around 4.7%. This surge follows years of consolidation between 2022 and 2024, when prices largely drifted sideways. The recent acceleration marks a clear departure from that range-bound behavior. Over the past five years, platinum has climbed nearly 167%, highlighting the scale of the broader move.
The three-month rally stands out for both its speed and consistency, with sustained buying pressure pushing platinum well beyond the $2,000 psychological barrier.
⬤ The advance has been remarkably steady, with consecutive bullish candles reflecting persistent demand rather than a short-lived spike. The lack of meaningful pullbacks during this phase underscores strong momentum as the metal pushes deeper into record territory. This new high is significant for the precious metals space overall, as it signals a decisive trend change after years of uneven performance. While volatility may pick up following such an extended run, the breakout sets an important benchmark for how the market is currently valuing platinum in this cycle.
Peter Smith
