Platinum Rises 1.32%, Palladium Up 0.28% on June 17 as Geopolitical Risk Premium Retreats

According to Jin10 Futures and China Securities Futures, platinum futures on the Guangzhou Futures Exchange rose 1.32% to 441.50 yuan per gram on June 17, while palladium futures climbed 0.28% to 317.15 yuan per gram, after an early session rally that partially reversed by market close. The initial gain was driven by U.S.-Iran signing a memorandum of understanding, with formal ceremonies scheduled for June 19 in Geneva, reducing geopolitical risk premium. However, unresolved disagreements on toll collection and other core issues sustained underlying uncertainty.

From a fundamental perspective, London Platinum forecasters estimate a 2026 supply-demand deficit averaging 8.9 tons, marking the fourth consecutive year of shortage and reducing above-ground inventory by 65%, creating physical market tightness. Platinum valuations remain significantly below gold, presenting continued upside potential, while palladium faces persistent headwinds from automotive electrification.