Platinum swoons over 1% as dollar muscles up

Platinum prices tumbled over one percent for the eleventh session out of 13 away from the highest since early March, as the dollar index hit the highest since late August, ahead of an array of data from the US, the world's largest economy.

As of 02:45 GMT, platinum fell 1.43% to $928.16 an ounce from the opening of $941.58, while the dollar index rallied 0.42% to 93.03 from the opening of 92.65. 

Now investors await the US consumer sentiment index for September, expected to fall to 119.9 from 122.9 in August, while new home sales are forecasts to have risen 3.3% to 585 million units in August, compared to July's 9.3% tumble to 571M.

The Richmond manufacturing index is expected to drop to 13 from 14 in August, while Federal Open Market Committee member Lael Brainard delivered opening remarks at the Federal Reserve Board Conference, in Washington DC.

The main event later today is Federal Reserve Chair Janet Yellen's speech titled "Inflation, Uncertainty, and Monetary Policy" at the National Association for Business Economics Annual Meeting, in Cleveland.

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