NYMEX Lifts Platinum Margins 25% After Metal Hits 11-Year High

The CME Group’s clearing division has hiked performance bond requirements on NYMEX Platinum Futures by roughly 25%, according to an advisory circulated late Thursday.

“The rates will be effective after the close of business on Friday, 27 June 2025,” the notice states, marking the second margin increase in just two weeks.

Under the new schedule, front-month non-HRP platinum contracts will require US$5,000 per contract in both initial and maintenance margin—up from US$4,000—while hedge-reduced positions rise to US$5,500.

Similar 25% uplifts hit platinum TAS and micro contracts, signalling a sweeping risk recalibration across the complex.

The decision lands on a day when platinum touched US$1,416 per ounce, its highest since 2014, capping a 54% year-to-date run-up as dwindling South-African supply collides with resurgent Chinese jewelry demand. Spot prices have now advanced more than 30% in a single month, a pace analysts warn has outstripped fundamentals and left the metal “significantly overbought”.

Margin hikes following sharp rallies are standard exchange practice, but two consecutive increases in as many weeks underscore CME’s concern over volatility risk. If history rhymes with the 2008 platinum spike—when a similar squeeze preceded a 40% collapse—traders may be bracing for a volatility whiplash.


Information for this story was found via the sources mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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