Platinum wavers near one-week high

Platinum prices wavered on Monday near a one-week high as commodities kept rebounding on the back of dollar's decline against a basket of currencies, while gold held on to its gains, underpinning platinum. 

Platinum last traded at $965.85 an ounce, compared to the opening of $967.0, with an intraday high at $969.25, and a low at $962.25. 

Platinum's recovery comes amid ongoing negative pressure on the dollar following the Federal Reserve's meeting last week, which reinforced the gradual approach for tightening policy and increasing interest rates three times this year, ending speculation of a possible acceleration of the pace of rate hikes. 

Dollar's drop to a five-week low buoyed gold prices today alongside platinum and other commodities according to their inverse relation, while the G20 meeting showed the group has abandoned its pledge of keeping trade open and free, pressuring the dollar further. 

The dollar index, tracking the greenback versus an array of six major counterparts, fell to 100.25 from the opening of 100.29, with an intraday high at 100.36, and a low at 100.00.