Why is Gold Spot Platinum Stock ratio climbing today?

The article explains why the gold-to-platinum ratio (XAU/XPT) rose 1.3% to 2.5264, reaching an intraday high of 2.5308, as gold outperformed platinum. Gold gained on expectations the Federal Reserve will hold rates steady in September, which supports non-yielding bullion, while investors also sought safety amid a risk-off tone in equities and a weaker U.S. dollar. Platinum lagged due to profit-taking after a multi-week rally and concerns about softer automotive demand and EV adoption reducing catalytic-converter demand. Although a 2026 structural supply deficit forecast from the World Platinum Investment Council continues to support platinum longer term, near-term sentiment favored gold. Overall, the move reflects a macro-driven divergence between gold’s monetary/safe-haven appeal and platinum’s industrial exposure.