Spot platinum has just broken through the $1,740.00/oz level, now quoted at $1,739.59/oz, down 3.01% on the day; Nymex platinum futures' main contract is now quoted at $1,749.0/oz, down 2.52% on the day.

According to internal documents and a person familiar with the matter, Japan's Honda Motor plans to cut costs by over 9 billion dollars in the next four years and has requested suppliers to significantly reduce prices. Honda's management introduced the plan to suppliers at a spring meeting, after which each supplier received a specific cost reduction target for their respective company. The documents show that Honda aims to cut costs by 30% in three key component categories.

Market news: Honda plans to cut costs by 1.5 trillion yen by 2030.

Trader: As oil prices surge, the Reserve Bank of India sold US dollars before market open to support the Indian rupee exchange rate.

Spot gold fell by 1.00% intraday to $4,284.70 per ounce; COMEX gold futures main contract last traded at $4,331.90 per ounce, down 1.47% on the day.