Platinum plumbs one-month trough as dollar hits two-week high

Platinum prices tilted lower in American trade to the lowest since January 11, as the dollar index rose to January 24 highs, following earlier data from the US, the world's largest economy. 

As of 02:22 GMT, platinum prices fell 0.22% to $989.05 an ounce from the opening of $991.22, while the dollar index added 0.39% to 89.90 from the opening of 89.55. 

Earlier US data showed the trade deficit widened to $53.1 billion in December from $50.4 billion, while Saint Louis Federal Reserve President James Bullard said in earlier remarks that the links between labor and inflation have broken down in recent years. 

Bullard, who doesn't have voting privileges in this year's FOMC meetings, warned from interpreting good labor news as leading to direct gains in inflation, noting that the relationship could be close to zero, which comes after the last US payrolls report showed the fastest wage growth in eight years, stoking expectations of higher inflation and faster Fed rate hikes.