Platinum futures remained below $1,760 an ounce after falling more than 4% in the previous session to a five-week low. Higher U.S. Treasury yields and a stronger dollar reduced demand for the non-yielding metal after stronger-than-expected U.S. business activity data boosted expectations for higher interest rates. The 10-year U.S. Treasury yield reached its highest level since 2007, while markets increased bets on another Federal Reserve rate hike at the October meeting. Higher oil prices added to inflation concerns after Iran's President said Tehran would keep the Strait of Hormuz closed while U.S. sanctions and the blockade remain. Platinum's longer-term fundamentals remain supportive: above-ground stocks are forecast to cover only 3.4 months of demand by year-end, even with a projected 265,000-ounce surplus in 2026, while industrial demand is expected to rise 5%, partly because of AI-related glass and electrical applications.