Platinum prices tilted lower on Wednesday to decline for the second session in 6 from the highest since November 7, as the US dollar continues its rebound from its lowest since November 7 for the third straight session, in line with the inverse relation between them, while market participants await the US Fed minutes for the October meeting later today, and amid developments in the US-China trade dispute. 

Platinum prices fell by 0.25% to $910.87 an ounce as of 05:03 GMT, from the opening of $908.6, while the dollar index rose by 0.03 to 97.89 points after opening at 97.86. 

In the meantime, investors are anticipating the minutes of the FOMC meeting held on 29-30 October, which saw the latest US rate cut for the third time by 25 points to 1.50%, along with hints of for holding the monetary policy as the US Fed will consider increasing its interest rate if there is a huge and sustainable move in inflation. 

President Donald Trump renewed his threats to increase tariffs against Chinese imports on Tuesday, if Beijing does not sign the first phase of the trade deal with the US ahead of December 15, which diminished investors' risk appetite as it can be a major hurdle in the way of ending the trade war.

The US benchmark crude prices turned up as the US market opened on Wednesday after earlier decline in the European market, to hold above a 3-week low, and head cautiously for the first daily gain in the last 3 days, ahead of the (EIA) weekly inventories report, after the API preliminary data showed a surge in the US crude inventories to 4-month peek.

West Texas Intermediate (WTI) rose to $55.70 a barrel as of 13:17 GMT, from the opening of $55.23, and hit a session-high of $55.76, and a low of $54.87 (its lowest since November 1).

WTI closed yesterday lower by 3.1%, its second straight daily loss, after President Trump's remarks renewed worries over the trade war between the US and China.

President Donald Trump said during a meeting with the government on Tuesday that his administration will increase the tariffs if China didn't agree on the trade deal.

The American Petroleum Institute (API) revealed yesterday in preliminary data the US crude inventories rose by 5.9 million barrels during the week ending in November 15, beating forecasts of 1.6 million barrels, the total US commercial inventories rose to 445.4 million barrels (the highest since July 19), which is a negative sign of the US domestic demand.

While the US Energy Information Administration (EIA) will release today the official data on inventories and production levels in its weekly report, with forecasts for inventories to rise by 1.4 million barrels, while in the last week's report the production levels rose by 200,000 barrels to the US all-time record at 12.8 million barrels per day.

The US dollar rose against a basket of global currencies on Wednesday, to continue its recovery for the second straight day from a 2-week low, amid tensions between the US and China, while investors await the release of the US Fed meeting minutes later today, which provide insights on prospects for the US monetary policy and future rate cuts.

The dollar index rose by 0.2% to 98.04 points, after opening at 97.85, and hit an intraday low of 97.85.

The US dollar rose by less than 0.1% yesterday, its first daily gain in the last 4 days, in its recovery attempts from a 2-week low of 97.68 points hit in the previous day.

President Donald Trump threatened on Tuesday to increase the tariffs against China if the ongoing trade talks failed.

Whilst, the Chinese Foreign Ministry today condemned the US interference after the Senate unanimously passed a bill to support pro-democracy protesters in Hong Kong.

At 19:00 GMT the US Federal Reserve will release the minutes of its October's meeting, which saw the third US rate cut during this year by 25 points to around 1.75%.

The meeting minutes provide more details and insights on prospects for the US monetary policy approach and future rate cut for the fourth time this year, which may come in the Fed's efforts to counter the US economic slowdown risks.

Silver prices jumped to  2-week high during the European session on Wednesday, to extend gains for the third straight day, amid strong demand on safe havens and subdued risk appetite, ahead of the release of the US Federal Reserve meeting minutes.

Silver prices gained 0.4% to $17.20 an ounce (highest since November 7), after opening at $17.13, and hit a session-low of $17.10.

Silver rose by 0.7% yesterday, its second straight daily gain, as  precious metals rose amid strong safe-haven demand.

Investor risk appetite ebbed, which is reflected in the decline of most global stocks, due to mounting tensions between the US and China which might delay the signing of the first phase trade deal.

The Chinese Foreign Ministry today condemned the US interference after the Senate unanimously passed a bill to support pro-democracy protesters in Hong Kong.

While President Donald Trump said during a meeting with the government on Tuesday that his administration will increase the tariffs against China if it didn't agree on the trade deal.

At 19:00 GMT the US Federal Reserve will release the minutes of its October's meeting, which saw the third US rate cut during this year by 25 points around 1.50% and 1.75%.

The meeting minutes provide more details and insights on prospects for the US monetary policy approach and future rate cut for the fourth time this year, which may come in the Fed's efforts to counter the US economic slowdown risks.