Why is platinum so cheap 2020?

Nathen Ondricka asked a question: Why is platinum so cheap 2020?
Asked By: Nathen Ondricka
Date created: Thu, May 13, 2021 9:47 AM

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Top best answers to the question «Why is platinum so cheap 2020»

The metal's supply is unusually concentrated, with South Africa producing around 75 per cent of the world's newly mined platinum. As a result, any economic or political turbulence in the region may cause a supply disruption, determining the metal's prices.

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%.

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👉 Why is platinum so cheap?

Platinum Is in a Supply Deficit, Lifting Prices

This was especially true in South Africa, the world's #1 source for newly mined platinum. 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.

👉 Will platinum go up 2020?

Platinum price climbs to six-year high

The platinum price rose by 13% in 2020 to end the year at $1,072.12 an ounce. It slipped back to $1,035.56 an ounce on 11 January, before rallying to the February high.

👉 Is platinum a good investment 2020?

Demand vs supply

In 2020, estimates are that the platinum jewellery demand will total 1,826 Koz — down 13 per cent y-o-y. Investors are also not keen on platinum. While platinum backed ETFs saw an increase of 991 Koz in holdings of in 2019, in 2020 it is expected to increase by 530 Koz.

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Why is platinum so cheap 2020? The metal’s supply is unusually concentrated, with South Africa producing around 75 per cent of the world’s newly mined platinum. As a result, any economic or political turbulence in the region may cause a supply disruption, determining the metal’s prices.

The World Platinum Investment Council forecasts that in 2020, there will be a total surplus of 247,000 ounces, which is 128,000 ounces higher than its previous estimates. Supply is expected to be down 13 per cent, year-on-year, while demand is anticipated to be 18 per cent lower than in 2019 mainly on weak jewellery and automotive sales, as well as lower investment demand.

These levels were last seen in 2008. Still, platinum consistently traded above $1,600/oz as recently as 2013. To understand why platinum prices tumbled, we must consider what makes platinum valuable in the first place. Platinum Has Important Industrial Uses. Platinum (chemical symbol: Pt) is a very rare metal in the Earth's crust. It is also ...

Why is platinum so cheap 2020? The metal’s supply is unusually concentrated, with South Africa producing around 75 per cent of the world’s newly mined platinum. As a result, any economic or political turbulence in the region may cause a supply disruption, determining the metal’s prices. How can you tell if its real platinum?

Now, with rising uncertainties around the globe, political conflicts and global recession, platinum has stayed under $1,000 per ounce. Analysts and reports suggest that by the end of this year and in next year’s platinum’s demand will increase once again, causing a surge in prices.

New York (CNN Business) Gold prices have soared more than 20% in 2020, and they hit a new record high earlier this year. Silver and palladium are surging, too. But platinum prices are down almost...

Platinum is used in diesel cars (in the catalytic converter). Palladium is used in petrol cars. Hence as diesel has lost out to petrol, platinum has lost out to palladium. The palladium price is now near a record, sitting at around $1500 an ounce (you can see how unusual this situation is in the chart below).

Platinum prices endured a rollercoaster ride in 2020, hitting a two year high in January before plummeting to a 17 year low in March. Although the rest of the precious metals suite recovered...

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Does platinum tarnish?

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Gold or platinum?

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Will platinum tarnish?

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How to turn cheap jewelry gold again in 2020?

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Can i buy platinum?

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Can platinum be pawned?

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Can you glue platinum?

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Can you scratch platinum?

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Does botswana have platinum?

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Does platinum hold value?

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How platinum is made?

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Is platinum plating durable?

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