The price of platinum rose significantly this week, as well as the price of the paladium, says Commerzbank raw material analyst Carsten Fritsch.
Platinum and paladium are exceptionally cheap compared to gold
“The platinum rose 5.6% only on Tuesday and then reached its highest level in almost a year on Wednesday to $ 1,090 per Troy ounce. At the same time, the paladium rose about 8% more than $ 1,055 per Troy ounce, which was a maximum of 3½ months. Before this, several market observers had published their new forecasts for the metals of the platinum group. In most cases, they showed that the markets show They are still in a supply deficit. “
“However, the demand is expected to decrease, in some areas even in a quite significant way. Therefore, the new forecasts cannot necessarily be seen as the reason for the prices jump. However, they may have been taken as an opportunity. After all, with a price discount of more than $ 2,200 compared to the gold and a price ratio of more than 3: 1, the platinum and the paladium are exceptionally cheap compared to the gold. The recent price increases will last. “
“There have been pricing peaks in platinum and paladium before in recent months. However, as in October 2024 and in the case of platinum in May 2024, these were reversed after a short time. For platinum prices and paladium to rise permanently and recover ground in front of gold, uncertainty around the tariff policy would have to decrease, which seems unlikely.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
