Platinum backs off two-week high

Platinum prices fell on Wednesday away from a two-week high hit yesterday, as the dollar stopped falling against a basket of currencies, weighing on commodities as investors shun riskier assets. 

Platinum last traded at $969.35 an ounce, down from the opening of $969.55, with an intraday high at $974.45, and a low at $965.05. 

Platinum's drop comes after the dollar regained its footing against a basket of currencies after setting a six-week trough, forcing commodities to resume their decline on profit-taking, specially after a Fed official expressed her desire to see more than three rate hikes this year. 

Markets are facing aggressive selling pressures on stocks, with investors taking refuge at safe havens away from riskier assets, in turn hurting platinum and other commodities and buoying gold prices. 

The dollar index, tracking the greenback versus an array of six major counterparts, inched up to 99.73 from the opening of 99.69, with an intraday high at 99.91, and a low at 99.60.