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Platinum set a 2008 peak near $2,300 an ounce, Mike McGlone notes

Platinum set a 2008 peak near $2,300 an ounce, Mike McGlone notes
Platinum under pressure amid 2025 risks

Mike McGlone highlights that platinum could face continued challenges, particularly if gold reverses its rally in 2025.

He observes that platinum’s 2008 record high of about $2,300 an ounce represented a significant premium to its long-term average, reaching roughly 2.1 times its 60-month moving average. The commentary suggests that platinum’s strong historical performance might result in extended weakness.

McGlone has recently examined the impact of central bank rate hikes on metals prices, warning that tighter policy could trigger post-inflation deflation in commodities such as gold and platinum, as noted in previous commentary. He has also analyzed how falling U.S. natural gas futures might signal downward pressure for both diesel prices and Treasury yields, detailed in an earlier report. These observations provide insight into his broader outlook on metals and energy markets.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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