Platinum (XPL) prices dropped back after rising to record high of nearly $2,925 in early 2026. The correction occurred as the precious metals rally cooled amid macro uncertainty across global markets. In my opinion, this consolidation could potentially lead to the next move higher if prices can continue to hold the key $1,900 support level. This article discusses the macro drivers, supply deficit in the platinum market and key technical levels that could determine the next direction of platinum prices.
