Platinum on track for first weekly profit in three

Platinum prices rose on Friday after hitting its highest level this week yesterday, with the metal heading for the first weekly profit in three after tumbling to 2-1/2 month low in recent weeks. 

Platinum last traded at $961.75 an ounce, up from the opening of $985.65, with an intraday high at $963.80, and a low at $953.85. 

Platinum's current rise comes after the Federal Reserve hiked interest rates as widely expected, and expected three rate increases this year in accordance with inflation and employment data, but the dollar lost its steam nonetheless. 

The dollar's decline and firming outlook for interest rates helped commodities recover some ground lost recently. 

The dollar index, tracking the greenback against an array of six major counterparts, traded at 100.23, compared to the opening of 100.24, with a session-low at 100.13, and a high at 100.46.