Gold 
“Platinum prices rose during October, building on their strength from September. Prices were unable to break above the highs reached in May 2024, however, and by early November had fallen back to levels at which they were at the start of October. The strength in platinum prices during October was driven by the U.S. government’s comment to the G7 regarding the sanctioning of Russian mined palladium and titanium. As explained in
the palladium section of this report, this was most likely a weak U.S. government propaganda effort ahead of the U.S. election and that the G7 would not agree to such sanctions because of their dependence on Russian palladium for their auto industries.
Commercial vehicle demand is stumbling across major auto markets, as a result of softening economic growth as well as strong demand in these markets during 2023. This development could adversely affect platinum fabrication demand, which is heavily dependent upon this sector.
That said, seasonal strength, declining interest rates, and a Trump presidency, which should be more supportive of internal combustion engine vehicles, should help to provide support to platinum prices.
Platinum prices are expected to move in a range bound fashion between $950 and $1,050 over the next few months. That said, any concerns about a potential supply disruption, as was seen during both September and October, could push platinum prices out of bounds to the up-
Side.”
*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.
