Platinum Rallies to the Highest Since 2014 Amid Market Tightness

Platinum extended a powerful rally to hit the highest level in more than a decade, with gains underpinned by a spike in demand and expectations for a market deficit.

Spot prices surged by more than 2% to $1,350.17 an ounce, the highest level since September 2014. In a sign of near-term tightness, metal for immediate delivery has been trading at a premium to futures.