SINGAPORE - Platinum and palladium are poised for further gains amid a rally in precious metals driven by geopolitical uncertainties and the prospect of more US interest rate cuts .

Platinum has made strong gains in January, with prices up nearly 20 per cent . Spot platinum stood at around US$2,460 an ounce at 11am on Jan 21 , shortly after touching a record high of US$2,511. The price rises come amid supply concerns and rising demand from jewellers seeking cheaper alternatives as gold and silver prices climbed.