Platinum hits record high on tight supply, EU combustion-engine ban reversal

Platinum jumped to an all-time high on Friday, on track for its biggest annual rise ever, as supply constraints, an unexpected EU policy U-turn on the 2035 combustion-engine ban, and shifting investor flows out of gold fuelled the rally.

Platinum prices rose 8% to an all-time high at $2,413.62 per ounce by 0304 GMT.