Platinum prices continued to rise sharply today. U.S. June nonfarm payrolls increased by 57,000, significantly below market expectations of a 110,000 gain, while April payrolls were revised down to 148,000 from 179,000 and May payrolls to 129,000 from 172,000. Following the data release, expectations for US Fed interest rate hikes, already dampened by Warsh's public remarks the day before yesterday, cooled further, and precious metals surged. In early trading, the most-traded platinum contract on GFEX, PT2608, closed at 412.6 yuan/g, up 3.81%, while the inverted spread between the SGE Pt9995 ask price and GFEX PT2608 held at 4 yuan/g. In the spot market, mainstream platinum quotations were at discounts of 1 yuan/g to parity against the PT2608 contract. As futures prices rose continuously, the discount of mainstream quotations widened slightly from the previous trading day. Downstream demand was weak and wait-and-see sentiment was strong, leaving overall platinum trading sluggish today.

Platinum prices rebounded strongly today. US ADP employment data and manufacturing PMI data both fell short of expectations, and Kevin Warsh said in a public speech in Sintra on Wednesday evening that upside risks to inflation had eased, cooling market expectations for rate hikes. During morning trading, the most-traded GFEX platinum contract PT2608 closed at 401.6 yuan/g, up 5.12%. The inverted spread between the best ask price of Shanghai Gold Exchange's Pt9995 and GFEX PT2608 remained at 4–6 yuan/g. Spot side, mainstream platinum quotations were at a discount of 0.5 yuan/g to a premium of 0.5 yuan/g against the PT2608 contract, with the discount level unchanged from the previous trading day. Most traders' quotes still leaned toward parity with the most-traded contract. Downstream consumption was weak and wait-and-see sentiment was strong as platinum prices rose markedly intraday. Overall, turnover in the platinum market remained sluggish today.

Today, platinum prices continued their weak trend. The market is currently focusing on the US June non-farm payrolls report, manufacturing PMI, and ADP employment data this week. Precious metals futures may continue to swing wildly, with limited upside room. During the morning session, the most-traded GFEX platinum contract PT2608 closed at 382.75 yuan/g, down 1.91%. The inverted spread between the SGE platinum 9995 ask price and GFEX PT2608 widened to around 6 yuan/g. In the spot market, mainstream quotations for platinum were at a discount of 0.5 yuan/g to a premium of 0.5 yuan/g against the PT2608 contract. The discount in mainstream quotations was basically flat compared with the previous trading day. The majority of traders quoted at parity against the most-traded contract. Most upstream enterprises had a low willingness to sell due to low absolute prices. Downstream demand was limited, with most enterprises staying on the sidelines, and some making just-in-time procurements. Overall, platinum trading was light today.

Platinum prices drifted lower today. With ongoing uncertainties surrounding the U.S.-Iran situation and repeated swings in market rate hike expectations, precious metals futures are likely to continue swinging wildly, limiting upside room. In early trading, the most-traded GFEX platinum contract PT2608 closed at 388.9 yuan/g, down 3.29%. The inverted spread between the SGE Pt9995 best ask price and GFEX PT2608 narrowed to around 4 yuan/g. In the spot market, mainstream quotations for platinum ranged from a discount of 1 yuan/g to a premium of 1 yuan/g against the PT2608 contract. Mainstream quotations against the contract were basically flat compared to the previous trading day, with most traders quoting at parity with the most-traded contract but seeing difficulty in closing deals. A small portion of spot platinum with current-month invoices was quoted at a modest premium. Most upstream enterprises showed limited willingness to sell due to low absolute prices, while downstream demand was limited and the wait-and-see sentiment was strong. Overall, platinum trading was relatively sluggish today.

Platinum prices drifted higher today. Geopolitically, the U.S.-Iran situation eased first but then became volatile again, causing market sentiment to waver. On the macro data front, U.S. Q1 GDP data showed concerns about the consumption recovery, providing some support for precious metals, which rebounded slightly. In morning trading, the most-traded GFEX platinum contract PT2608 closed at 404.85 yuan/g, up 2.77%, while the inverted spread between the sell-one price of Pt 9995 on the Shanghai Gold Exchange and GFEX PT2608 remained around 5 yuan/g. In the spot market, mainstream platinum prices were quoted at a discount of 1 yuan/g to parity against the PT2608 contract, with the discount in mainstream quotations widening slightly from the previous trading day. Most traders still quoted around parity against the most-traded contract, but transactions were rather difficult to complete. Most upstream enterprises had limited willingness to sell due to low absolute prices, while downstream consumption was low and wait-and-see sentiment was strong. Overall, platinum transactions were somewhat sluggish today.

Platinum prices hovered at lows today. On the macro front, the US PCE data met expectations, and worries about Fed rate hikes eased somewhat. In early trading, the most-traded GFEX platinum contract PT2608 closed at 391.00 yuan/g, edging up 0.31%. The inversion spread between the best ask price for SGE platinum 9995 and the most-traded GFEX PT2608 contract narrowed to around 5 yuan/g. Spot side, mainstream platinum quotations were at a discount of 1 yuan/g to a premium of 1 yuan/g against the PT2608 contract, basically flat from yesterday. The vast majority of traders quoted on the higher side. Although closing deals at premium quotes was challenging, some suppliers reported that transactions at quotes near parity were moderate. Most upstream enterprises remained reluctant to sell due to low absolute prices, while downstream users mainly purchased through negotiations based on immediate needs. Overall platinum transactions were normal today. Overall platinum transactions were normal today.