Platinum and paladium prices were under pressure yesterday and reversed most of the profits of the previous day. The price drop occurred long before gold and was certainly not related to this. The price of platinum had previously risen almost to its maximum of 11 years since the end of last week again. The high price volatility of recent days could indicate that the end of the price rally is close.
Russian producer awaits a balanced market for the paladium this year and next
“An important nickel and metal producer of the Platinum Group of Russia has published new forecasts for Platinum and Palad. Other industrial applications will not be able to compensate this completely. ”
“Including the investment demand, the company anticipates a supply deficit of 200 thousand ounces this year and 300 thousand ounces next year. Therefore, the company is more cautious than the Metals Focus consulting firm, which in May predicted a supply deficit for the platinum market in 2025, including the demand for physical investment (ingots and coins) that is more than the double of high.”
“The aforementioned Russian producer also awaits a balanced market for the paladium this year and next, with the demand of the automotive industry also waiting for it to be reduced and the investment demand for the paladium unlikely to play a significant role. The company attributes the strong increase in platinum prices since mid -May to greater imports from China and USA in China, it is said that the jewelry industry is responsible for this Platinum at the expense of gold, while investors in the US are concerned about sectoral tariffs on the Platinum Group. “
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.
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