Is platinum expected to go up?
Is platinum expected to go up?
According to their platinum forecast, we should expect a bullish breakout in 2021. The market price ultimately has an upside PL potential of 80% ($1800/oz) in 2022 or beyond. In 2021 we see price targets of $1,350 and $1,500.
What will 2022 platinum be worth?
Platinum will average $1,222 an ounce in 2021 and $1,253 in 2022, according to the median response from the poll of 34 analysts and traders conducted this month. A similar poll three months ago forecast averages of $1,044 for 2021 and $1,082 for 2022. Platinum averaged $883 in 2020.
What is the forecast for the price of platinum?
It returned median forecasts for platinum to average $1,000 an ounce in the final three months of 2021 and $1,110 in 2022. For palladium, it predicted averages of $2,050 an ounce in the fourth quarter of 2021 and $2,150 in 2022.
Is platinum a good investment?
Platinum is also rarer and harder to mine than gold since it is found deeper in the Earth’s core. This combination of short supply and broad demand should make for a lucrative investment opportunity, but investing in platinum is not for the faint of heart.
Why is platinum so cheap 2021?
Platinum Is in a Supply Deficit, Lifting Prices With mining stalled, the global platinum market entered a supply deficit. In other words, demand for platinum is exceeding the available supply of the precious metal. During the first quarter of 2021, demand for the metal rose by 26%.
Why is platinum dropping value?
The price of platinum changes along with its supply and demand; during periods of sustained economic stability and growth, the price of platinum tends to be as much as twice the price of gold; whereas, during periods of economic uncertainty, the price of platinum tends to decrease because of reduced demand, falling …
How much is platinum worth in 2021?
As of August 31st 2021, the average platinum price increased to around 1,142 U.S. dollars per troy ounce, a 249 U.S. dollars difference compared to the 2020 average price.
Is platinum a good investment in 2021?
Similar to gold, platinum is also considered to be a safe-haven asset and is used in jewellery-making. The overall demand for platinum is expected to increase to 7.753 million ounces in 2021, up 1% from the previous year, according to the WPIC.
Is platinum worth the investment?
Platinum offers a unique investment opportunity, with strong merits to consider: Platinum’s precious underpin offers a low-risk entry for investors looking to buy into this investment asset. Platinum has a low correlation to the performance of traditional assets and performs well during periods of economic recovery.
Is it good to invest in platinum?
Will platinum prices rise?
Looking ahead, Reynolds believes that platinum prices will rise in 2019 . “Although supply should pick up slightly on higher output from North America, while demand is also set to rise, the ongoing decline in sales of diesel vehicles will dampen any increase in prices,” he noted.
What is the future of platinum?
Platinum Price Recovery to Start in 2019. Melissa Shaw – May 15th, 2017. Capital Economics commodities economist Simona Gambarini said in a recent presentation that platinum prices will reach $1,150 by the end of 2019 and $1,350 by the end of that year. Capital Economics predicts that platinum price softness will be confined to the short term.
What is the outlook for gold and silver?
While silver has rallied in recent days, following gold higher, to trade at US$15.70 per ounce, it is still well under US$17 an ounce and down by 8% over the last year. According to some analysts, silver will remain stagnant over the course of 2019 with higher gold the only tailwind that will push the white metal higher.
