Platinum prices edge lower as dollar continues to rebound
2019-11-20 05:09AM UTC

Platinum prices tilted lower on Wednesday to decline for the second session in 6 from the highest since November 7, as the US dollar continues its rebound from its lowest since November 7 for the third straight session, in line with the inverse relation between them, while market participants await the US Fed minutes for the October meeting later today, and amid developments in the US-China trade dispute. 


Platinum prices fell by 0.25% to $910.87 an ounce as of 05:03 GMT, from the opening of $908.6, while the dollar index rose by 0.03 to 97.89 points after opening at 97.86. 


In the meantime, investors are anticipating the minutes of the FOMC meeting held on 29-30 October, which saw the latest US rate cut for the third time by 25 points to 1.50%, along with hints of for holding the monetary policy as the US Fed will consider increasing its interest rate if there is a huge and sustainable move in inflation. 


President Donald Trump renewed his threats to increase tariffs against Chinese imports on Tuesday, if Beijing does not sign the first phase of the trade deal with the US ahead of December 15, which diminished investors' risk appetite as it can be a major hurdle in the way of ending the trade war.

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