Platinum Price OutlookPlatinum prices fell by a small margin in the first week of February over the last month. On 9 February, platinum traded at USD 969 per troy ounce. The print was 0.2% lower than on the same day last month, but was up 4.5% on a year-to-date basis. However, the price was 4.9% lower than on the same day in 2017. Platinum prices have remained weak despite persistent supply concerns. A lack of investment in South Africa, a major producer, has caused supply to wither, and the platinum market has been in a supply deficit for years. While recent political changes in the country have stroked hopes that business confidence could be revived and in turn fuel fresh investment, a large degree of uncertainty exists. Meanwhile, platinum has been trading at a discount compared to palladium since Q4. While the automobile sector had previously switched to using more palladium, denting demand for platinum, the change in price dynamics could stroke demand for platinum in the future.
Platinum Price History Data (USD per troy ounce, aop)
Price forecasts and historical data for Energy, Metals and Agricultural Commodities.
Platinum Historical Price Chart
Price forecasts and historical data for Energy, Metals and Agricultural Commodities
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