Platinum prices edge away from their three-month high

Platinum prices gave up ground on Wednesday after climbing to a three-month high yesterday, benefiting from the steep decline of the U.S. dollar index. 

Platinum last traded at $927.95 an ounce, down from the opening level of $934.30, with a session-low at $922.90, which comes after prices hit a three-month peak yesterday at $939.85. 

Platinum's current decline is a result of the stabilization of the financial markets today, with European shares in particular surging, which shows that confidence is improving again in riskier assets, driving investors away from safe havens. 

Yields on government bongs began rising again in the Eurozone after hitting record lows yesterday as demand jumped for them from safety-seeking investors. 

As confidence rises again, demand for safe-haven platinum flattens out, while on the other hand, crude oil prices returned lower in the European trade after initial gains at the beginning of the day. 

Markets wait for the testimony of the Federal Reserve chair Janet Yellen ahead of Congress, which is expected to dictate the dollar's next movements, and therefore Platinum.