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Platinum Price Outlook
“Platinum prices continued to decline over the course of October, driven lower by weakening fabrication demand from the automotive sector, reflecting softer passenger vehicle demand; a declining diesel passenger vehicle market share; and the continued increase in battery electric vehicle penetration.
The broader weakness across the precious metals sector also weighed on prices. That said, platinum continued to perform better than palladium. Demand for platinum from the commercial vehicle sector and electronics is helping offset some of the weakness in demand from the passenger vehicle market. As explained in the previous edition of this report, platinum is benefitting from the diversification of its use in the auto sector as well as from constrained mine supply from South Africa, giving it an edge over palladium, which has more concentrated fabrication demand and diversified supply.”
The full Precious Metals Advisory report is available directly from CPM Group. For more information, visit their website, www.cpmgroup.com
*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.
