Dollar Dominance Caps Platinum's Rally

The price of platinum has been capped by a hawkish Fed and a firm dollar, preventing it from breaking above $1,900. As a result, platinum trades near $1,790, with key levels at $1,700 support and $1,900 resistance defining the next move.

In the long-term, a break above $1,900 could potentially open the way towards $2,200, but first, platinum may retest $1,700 in the coming weeks before attempting another rally.

The relationship between platinum and the US dollar is a crucial factor to consider. The strong dollar has limited the recovery of platinum, making it difficult for prices to break above key resistance levels.