Platinum prices rebounded slightly today. Macro front, central banks in multiple countries shifted toward hawkish policies, and the US April PCE price index annual rate rose significantly. As of 10:15 this morning, GFEX PT2606 closed at 467.55 yuan/gram in the morning session, up 1.16%, while the most-traded contract PT2608 closed at 473.55 yuan/gram, up 1.55%. The inverted price spread between the SGE Platinum 9995 best offer price and GFEX PT2606 remained around 15 yuan/gram. Spot market, warrant-based spot cargo suppliers generally quoted at relatively high levels, with mainstream quotations at a discount of 4 yuan/gram to parity against the PT2608 contract. Absolute prices were on the high side, and some suppliers reported that registered warrants were currently siphoning a large volume of spot cargo, leading to a premium on spot prices in the market. Transaction side, according to SMM, downstream enterprises maintained just-in-time procurement, while trading firms engaging in both spot and futures market actively inquired about platinum and palladium warrants due to current price spread opportunities between futures contracts. Overall, the platinum spot market was relatively active today.

Platinum prices fell sharply under pressure today. On the macro front, geopolitical tensions in the Middle East flared up again as the U.S. military launched a new round of strikes on military facilities inside Iran. In the morning session, GFEX PT2606 closed at 456.95 yuan/gram, down 4.11%, while the most-traded contract PT2608 closed at 462.05 yuan/gram, down 3.78%. The inverted price spread between the SGE Pt9995 best offer price and GFEX PT2606 widened to around 20 yuan/gram. Spot side, mainstream quotations for spot platinum premiums rose compared to the previous trading day. In the morning session, traders' mainstream quotations for non-delivery brand platinum were around parity with GFEX PT2606, while mainstream quotations for deliverable platinum ingots were at a premium of 1–2 yuan/gram over PT2606. Warrant spot suppliers generally quoted higher prices, and some enterprises quoted relatively high absolute prices against the PT2608 contract. Transaction side, according to SMM, downstream enterprises purchased as needed as futures dropped sharply, and trading firms engaging in both spot and futures market actively inquired about platinum and palladium warrants given current price spread opportunities between futures contracts. Overall, spot platinum market transactions were normal today.

Platinum prices were in the doldrums today. Macro side, Iran said the US blatantly violated the ceasefire agreement and it would respond accordingly. In morning trading, GFEX PT2606 closed at 478.85 yuan/gram, down 1.12%, while the most-traded contract PT2608 closed at 482.80 yuan/gram, down 1.15%. The inverted price spread between SGE platinum 9995 ask price and GFEX PT2606 widened, remaining at 8-10 yuan/gram. Spot side, mainstream quotation premiums for spot platinum were basically flat compared with the previous trading day. In morning trading, traders' mainstream quotations for non-delivery brand platinum were at parity to a discount of 2 yuan/gram against GFEX PT2606, while mainstream quotations for deliverable platinum ingots were at a slight premium to parity against PT2606. Quotations from warrant spot suppliers were generally higher. In terms of transactions, according to SMM, downstream enterprises purchased as needed based on orders, while trading firms engaging in both spot and futures market actively inquired about platinum and palladium warrants due to current price spread between futures contracts opportunities. Overall activity in the spot platinum market was normal today.

Platinum prices edged down today. On the macro front, rising expectations for US-Iran peace talks combined with heightened expectations for US Fed interest rate hikes driven by the Fed's hawkish stance continued to guide precious metals into volatile trading. In the morning session, GFEX PT2606 closed at 484.4 yuan/gram, down 0.66%, and the most-traded contract PT2608 closed at 489.1 yuan/gram, down 0.44%. The SGE Pt9995 best offer price remained in persistent inversion against GFEX PT2606, with the price spread staying around 5 yuan/gram. Spot side, mainstream quotations for spot platinum premiums were basically flat compared to the previous trading day. In the morning session, mainstream quotations from traders for non-delivery brand platinum were at parity to a discount of 2 yuan/gram against GFEX PT2606. Transaction side, according to SMM, some downstream buyers made rigid-demand bargain purchases in the morning session. Some suppliers reported small volumes of spot cargo transacted at a discount of 2 yuan/gram. Registered warrant shipment prices were generally higher. Trading firms engaging in both spot and futures market actively inquired about platinum and palladium warrants due to current price spread between futures contracts opportunities. The price difference between non-delivery spot platinum and registrable warrant spot cargo in the spot market gradually widened. Overall, consumption in the spot platinum market was normal today.

Platinum prices were in the doldrums today. Precious metals futures fluctuated around expectations of Voss's inauguration and a US-Iran ceasefire. In the morning session, GFEX PT2606 closed at 485.65 yuan/gram, down slightly by 0.20%, and the most-traded PT2608 contract closed at 489.5 yuan/gram, down 0.10%. The SGE Pt9995 best offer price remained persistently inverted against GFEX PT2606, with the price spread maintained at around 5-10 yuan/gram. Spot side, mainstream quotations for spot platinum premiums were basically flat compared to the previous trading day. In the morning session, traders' mainstream quotations were at parity to a discount of 2 yuan/gram against GFEX PT2606. Transaction side, according to SMM, in the morning session suppliers found it difficult to transact at parity to a discount of 1 yuan/gram against the most-traded GFEX platinum contract. Downstream buyers purchased on rigid demand with price negotiations, and some suppliers reported small volumes transacted at a discount of 2 yuan/gram for spot cargo. Most suppliers had limited room for negotiation due to the approaching delivery period, and registered warrants were generally offered at relatively high shipments prices. Overall, the spot platinum market saw subdued consumption today.

Platinum prices held up well today, with market logic still revolving around developments in US-Iran tensions and expectations for US Fed interest rate hikes. Ultimately, the most-traded platinum contract on GFEX closed the morning session at 485.95 yuan/gram, edging up 0.34%. The SGE Pt9995 best offer price remained persistently inverted against GFEX PT2606, with the price spread maintained at around 5 yuan/gram. There were no transactions for SGE Pt9995 during the morning session. Spot side, mainstream quotations for spot platinum premiums were basically flat compared to the previous trading day. Morning mainstream quotations from traders were at parity to a discount of 2 yuan/gram against GFEX PT2606. Transaction side, according to SMM, morning transactions from suppliers at mainstream quotations of parity to a discount of 2 yuan/gram against the most-traded GFEX platinum contract faced resistance. Downstream consumption was sluggish, with some downstream enterprises reporting sufficient stockpiling levels and weak procurement sentiment, while most suppliers also had limited room for price negotiation due to the approaching delivery period. Overall, spot market activity was relatively low today.

Platinum prices stopped falling and rebounded slightly intraday, supported by a rebound in precious metals as concerns over US-Iran tensions eased. Ultimately, the GFEX most-traded platinum contract closed at 483.05 yuan/gram in the morning session, up 0.74%. The SGE Pt9995-GFEX PT2606 spread remained inverted, with the price difference maintained at around 5 yuan/gram. Spot side, mainstream quotations for spot platinum premiums widened slightly compared to the previous trading day, with traders' mainstream morning quotations at parity to a discount of 2 yuan/gram against GFEX PT2606. Transaction side, according to SMM, some suppliers found it difficult to close deals at parity with the GFEX most-traded platinum contract in the morning session, and later adjusted to a discount of around 2 yuan/gram, completing a small volume of transactions as futures prices declined during the morning session. Downstream enterprises negotiated for purchases, and some trading firms engaging in both spot and futures market actively inquired about platinum and palladium warrants. Overall, spot market transactions were normal today.

Platinum prices fluctuated intraday, dipping after a slightly higher open in the morning session before seeing a weak rebound toward the close. Ultimately, the most-traded GFEX platinum contract closed the morning session at 491.4 yuan/gram, up 0.22%. The SGE Pt9995–GFEX PT2606 spread remained inverted, with the price difference holding at 5–10 yuan/gram. Spot side, mainstream spot platinum premiums continued to narrow compared to the previous trading day. Morning mainstream quotations from traders ranged from parity to a 3 yuan/gram discount to GFEX PT2606, with some platinum warrants sold at a slight premium. Transaction side, according to SMM, morning offers at a 1–3 yuan/gram discount to GFEX saw good turnover, with lower-end quotes quickly locked in by the market. As futures prices declined subsequently, higher-end quotes also saw transactions. With recent futures declines boosting downstream inquiries, the market generally reported that upstream shipments were limited due to low absolute prices, and some traders opted to wait for delivery, leaving spot cargo relatively tight. Overall, the spot market was fairly active today.

Published：May 13, 2026 The World Bank recently revised its precious metals outlook for 2026. The group now anticipates this basket of commodities to rise collectively by 42% in 2026. This represents a significant upward shift in projections, primarily fueled by the escalating Middle East conflict, rampant energy supply disruptions, dampened global growth, and heightened financial uncertainty. Precious Metals Lead the Commodity Complex In January 2026, the World Bank issued a commodities report that predicted a positive jump in its precious metals index for the year. This grouping holds gold, silver, and platinum, notably excluding palladium. Within Q1 alone, each asset in this basket of precious metals soared above the group’s expectations. Furthermore, each of these metals climbed to record highs in the early innings of the year. Gold prices shot up beyond $5,400/oz. Silver exploded to $116/oz. Platinum prices jumped to $2,770/oz. In late April, the World Bank issued another commodities report raising its precious metals outlook. Now, the group projects this collection of metals will surge by 42% throughout 2026, compared to the averages in 2025. Crucially, precious metals are projected to outperform nearly all other commodities, including base metals, fertilizer, and even energy prices. The global bank’s forecasts position silver as the highest-performing metal in 2026, with platinum as a close second. While gold is also expected to rise significantly, the yellow metal’s already elevated value means smaller percentage gains. Why the World Bank Expects Precious Metals to Rise A handful of long-running and newly forming factors are propelling the World Bank’s precious metals predictions higher for 2026. This fuel is a combination of geopolitical, macroeconomic, and fiscal policy issues: 1. Geopolitical Safe-Haven Demand Among the more pressing and immediate tailwinds for precious metals is war in Iran , which has spilt over into the broader Middle East region. The conflict has effectively choked off the Hormuz Strait, where nearly 20% of the world’s oil flows through. Drone and artillery attacks on various energy installations throughout the Gulf States further complicate the energy crisis. In response, investors have been actively rotating into safe-haven assets, such as precious metals, to offset the economically damaging effects of the oil shock and broader energy shortage. Historically, gold has consistently shown a tendency to perform well during periods of geopolitical turmoil and a loss of confidence in fiat systems. 2. Inflationary Energy Shock March marked the single largest inflation-adjusted quarterly rise in oil since 1988, per the Energy Information Administration . Throughout Q1, Brent crude nearly doubled, leaping from $61 to $118 per barrel. In March alone, liquid natural gas costs rose by 59% in European markets and by 94% in Asia. This collective surge in energy prices threatens to drive global inflation higher as loftier fuel costs drive up prices in virtually all sectors. The World Bank revised its inflation forecasts for Emerging Market and Developing Economies (EMDEs) to a staggering 5.1%. Once again, precious metals stand to gain, especially gold, which has a proven track record going back centuries for keeping pace with inflation . 3. Market Volatility & Policy Uncertainty The international financial institution further warns that the combination of geopolitical instability and rising inflation threatens to undermine market confidence and fiscal policy direction. Mainstream assets heavily tied to fiat currencies tend to wane during periods of high uncertainty, increasing the appeal of safe-haven assets . Gold demand is likely to increase from central banks, major financial institutions, and retail investors as traditional assets struggle. 4. Slowing Growth & Stagflation Risks At the same time, EMDE inflation is expected to rise, and growth across most economies is projected to fall, creating a one-two punch of economic hardship. This trend is playing out in advanced economies, too, with the U.S. gross domestic product hitting only 0.7% in Q4 2025 . The economy recovered slightly in Q1 2026, reaching 2%, according to the Bureau of Economic Analysis , but it remains far from ideal levels. Source: Bureau of Economic Analysis The alarming trifecta of slowing growth, rising inflation, and soaring commodity prices has the World Bank cautioning about the elevated odds of stagflation . In this challenging economic climate, all the tailwinds for precious metals would only intensify. Precious Metals Forecasts Remain Elevated Although precious metals have moderated since their early-year highs, experts across various sectors remain bullish on the upward potential of these commodities. Most notably, 2026 gold price forecasts remain above $6,000/oz. Meanwhile, silver price predictions for the year sit near $105/oz. These positive expectations fall right in line with the World Bank’s upward revision of its earlier predictions, signaling a strong potential for further growth among these key precious metals. Navigate Global Turmoil with Our Free Precious Metals Guide If you’re interested in learning more about how you can strategically position your portfolio to take advantage of these precious metals, grab a FREE copy of our Precious Metals Investment Guide . It covers everything you need to know about buying, holding, and managing physical gold and silver to protect your wealth. Source： https://www.sbcgold.com/blog/world-bank-sees-precious-metals-surging-42-in-2026-amid-global-turmoil/

Platinum prices remained under pressure intraday. Precious metals continued to be weighed down by rising rate hike expectations and easing tariff concerns. In the morning session, the most-traded GFEX platinum contract closed at 490.55 yuan/gram, down 2.36%. The SGE Pt9995 versus GFEX PT2606 spread remained inverted, with the price difference staying around 5 yuan/gram. Spot side, mainstream quotations for spot platinum premiums narrowed compared to the previous trading day. In the morning session, traders' mainstream quotations were at a discount of 1-3 yuan/gram to GFEX PT2606, with some platinum warrants sold at a discount of 0.5-1 yuan/gram. Transaction side, according to SMM, a small volume was traded at the mainstream quotations of 1-3 yuan/gram discount to GFEX in the morning session, with transaction prices clearly skewed toward the lower end. As futures continued to decline since last Friday, downstream inquiries increased, and some enterprises ended their wait-and-see stance to negotiate purchases. Overall activity in the spot market recovered somewhat.