Platinum surges past $1,000 as dollar bleeds

Platinum prices rose over one percent in American trade as the dollar index hit the lowest since January 15, 2015, following earlier data from the US, the world's largest economy, and ahead of consumer confidence data for August. 

As of 02:53 GMT, platinum rose 1.15% to $1,000.66 an ounce from the opening of $989.25, while the dollar index tumbled 0.37% to 91.87 from the opening of 92.21. 

Earlier US data showed the S&P/CS Composite-20 House Price Index slowed down in growth to 0.11% m/m from 0.13% in June, besting expectations of 0.10%, while on a yearly basis, the index steadied at 5.7%, above forecasts of 5.6%. 

The CB Consumer Confidence on the other hand is expected to slip to 120.9 in August from 121.1 in July, while North Korea conducted a new missile launch attempt for the first time above Japanese land, falling directly off the coast of Hokkaido in northern Japan. 

Otherwise, Standard Chartered pointed recently that the platinum market could be "mostly balanced" after revising its forecasts for a surplus of 63 thousand ounces this year, compared to a 42K deficit in 2016.