Gold 
“Platinum Price Outlook
Platinum prices rose alongside other precious metals during May. Platinum prices touched an intraday high of $1,105 on 20 May, the same day that gold prices touched a new record high. Platinum’s intraday high on 20 May was the highest level that platinum prices had been at since May 2023. There may be some seasonality in this. Platinum prices have slid lower since then and are flirting with dropping below $1,000 on 6 June at the time of writing this report.
In the coming months platinum prices are vulnerable to the downside. Much of the recent gain in platinum has been driven by strength in other precious metals prices, particularly gold which has helped to pull higher the entire complex. Also, recent EV-bashing in the press has helped some investors think that demand for platinum for use in catalytic converters on petroleum fueled cars may help platinum’s fabrication demand. But with gold prices forecast to move sideways to lower in the coming months and platinum’s fundamentals not particularly compelling, there is a risk that platinum prices fall back into the $880 to $1,000 range that platinum has been trading in since July last year.
Prices are unlikely to fall below the lower bound of this range, at least not in any sustained way, with ongoing mine supply risks and the relatively slower adoption of electric vehicles, at least in the short term, helping to support platinum prices.”
*This information is solely an excerpt of a third-party publication and is incomplete. Please subscribe to the referenced publication for the full article. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.
