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Nearby platinum futures in July hit an 11-year high of $1,491.20 an ounce. Prices have since backed off and seen some normal chart cosolidation.

Gold prices extended their extraordinary gains, with bullion prices surpassing their inflation-adjusted record set more than 4 decades ago. Spot gold prices rose 0.1% on the session to $3,656.40 an ounce, topping the inflation-adjusted record of $3,498.77 an ounce established in 1980.

A number of precious metal HTSUS codes were added to Annex 2 (tariff-free regardless of origin). A new Annex 3 introduces conditional exemptions tied to reciprocal trade agreements.

Silver leads global assets in 2025, surging 40% on bets of a Fed cut, tight supply, and geopolitical tensions.
Experts expect US retail demand to slow down, with a tug-of-war between profit takers and trend followers.

A historic price for the world’s oldest safe-haven asset signals waning confidence in the dollar and mounting pressure on the Fed.

SURPRISINGLY, one of the best-performing metal this year is not gold but ruthenium. This is especially relevant for South Africa as it will supply 71% of global primary ruthenium in 2025, according to Johnson Matthey, a global leader in sustainable technologies.

TANAKA Holds Press Conference to Commemorate Its 140th Anniversary Group CEO Koichiro Tanaka and Other Speakers Share TANAKA's Future Outlook and Diverse Range of Products and Solutions also Exhibited

One-kilo bars are the most common form of gold traded on Comex, the world’s largest gold futures market, with a majority coming from Switzerland, the world’s largest gold refiner and a major gold exporter to the U.S. that now faces U.S. tariffs of 39%.

“When a market tightens like this — whether it’s for good reasons, bad reasons, idiosyncratic reasons — it should pull material out of the shadows,” said Jay Tatum, who runs a metals fund at commodities-focused Valent Asset Management and has been bullish on platinum for about two years. Lease rates suggest the “acute tightness” isn’t over, he said.

The platinum price rally during the first half of 2025 has helped most mines recover from loss-making positions but the industry is still far from adding new production, Valterra Platinum CEO Craig Miller said on Monda

Johannesburg, South Africa-based precious metals mining and production firm Sibanye-Stillwater Group says it has entered into a purchase agreement to acquire Metallix Refining Inc., Shrewsbury, New Jersey, for $82 million.

SIBANYE-Stillwater announced on Monday it agreed to buy US-based precious metals recycling business Metallix Refining for $82m (R1.5bn) in cash. Metallix Refining, a profitable company in business for 60 years, would complement Sibanye-Stillwater’s Reldan which it acquired last year for $155.9m.

The platinum group metal is prized for its exceptional hardness and versatility across electronics, energy storage, and chemicals manufacturing. But it’s the AI revolution — particularly in hard disks — that’s driven recent gains, according to SFA (Oxford), a critical minerals consultancy, the report said.

Platinum soared nearly 50%, followed by gold (+26%), silver (+25%) and palladium (+21%). Meanwhile, copper had its own standout run, driven by rising industrial demand and geopolitical catalysts.

On 9th July, the European Commission (DG ECHO - European Civil Protection and Humanitarian Aid Operations) published a communication which calls for an EU Stockpiling Strategy, covering a series of “goods”, including critical raw materials such as PGMs. The EU Commission said that the EU should develop emergency stockpiles of medicine, generators and critical raw materials to be better prepared ...

In their latest note, commodity analysts at Metals Focus said they see limited downside for gold in the second half of the year as ongoing economic uncertainty is expected to support investment demand.
“Although the global economy appears to have avoided a full-scale trade war, U.S. tariffs are expected to remain historically high for some time. Perhaps more significantly, while the U.S. economy ...

The rally in platinum prices has been significantly fueled by production disruptions in S. Africa, the world's largest platinum producer. Mining output of PGMs fell by 24% YoY in April 2025, representing the peak of what industry analysts at Morgan Stanley described as an "exceptionally weak" production period.

Platinum soared to its highest level since 2014 on Thursday, fueled by supply concerns and a wave of speculative buying.
By midday, the precious metal had gained nearly 5% to trade at $1,406 an ounce, after hitting a fresh 11-year high of $1,416 earlier. Palladium also jumped by 4.8% to about $1,111 an ounce.

Former Anglo American Platinum chairman and CEO Barry Davison has passed away, industry sources said on Monday. He was 80. In addition to chairing Anglo American Platinum, Davison headed Anglo American’s ferrous metals and industries divisions. He was also an executive director of Anglo American Group from 2001 to 2005, serving under its then CEO Tony Trahar.

Miller highlighted that PGM market fundamentals remained robust, with demand and supply fundamentals suggesting a price upside. Existing demand is projected to remain stronger than initially forecast, while new demand would come from high-potential new use cases.

Silver leapt but the price of gold struggled in London Tuesday, extending this stretch of diverging prices to the longest in the 21st Century as the more industrially useful precious metal broke 13-year highs >$37/toz.