Platinum prices have surged to their highest levels since 2014, reaching above $1,400 per ounce and climbing approximately 56% year-to-date. This rally has been driven by strong demand from Chinese jewelry buyers who are favoring platinum over gold, as well as mounting supply concerns. The metal has experienced a notable breakout after breaking a 17-year downtrend last month, with prices peaking near $1,423.53 per ounce before encountering resistance around $1,430. This resistance corresponds to a 50% retracement of the price slump from 2008 to 2020. Despite a recent drop to about $1,374.72 per ounce, platinum's year-to-date gain remains around 41.5% to 57%, depending on the reference point. Meanwhile, gold prices have declined by about 1%, falling below $3,300 per ounce for the first time since June 30. Silver has also seen a strong performance, rising nearly 3% to above $38 per ounce, reaching its highest level since September 2011. Palladium is up 6.5% on the day, surpassing its 200-month moving average with a remaining target price of $1,450 per ounce.