Platinum rises as demand returns

Platinum prices rose today as demand returned on precious metals amid uncertainty about the US Federal Reserve monetary policy path.

The US Federal Reserve cut interest rates earlier this week by 25 basis points to between 2.00% and 1.75%, the second rate cut since 2008.

The Fed statement showed that the bank's members were divided on further rate cuts, which increased market uncertainty about the Fed's monetary policy path.

US Federal Reserve Chairman Jerome Powell said that the US economy and the labor are still strong, while the inflation rate is weak but it's expected to reach the bank's target at 2%.

Bearing in mind that rate decisions affect metals prices while monitoring demand signals in the US and other global markets.

As of 14:28 GMT, platinum futures spot price rose by 0.7% to $945.3 an ounce, with a high of $949.4 and a low of $936.8.