Will the price of platinum go up?

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Nickolas Legros asked a question: Will the price of platinum go up?
Asked By: Nickolas Legros
Date created: Tue, Jul 6, 2021 8:28 AM
Date updated: Thu, Jun 30, 2022 6:30 AM

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Top best answers to the question «Will the price of platinum go up»

Will platinum go up? Investment banks like ABN AMRO and ANZ expect the platinum price to rise into 2022 on growing demand from the automotive industry and a continued supply deficit.

Platinum will rise to USD 1,250/oz by the end of 2021, a 16% upside from Tuesday's price, UBS forecasted. The firm also said palladium could also hit $2,900 per ounce in 2021, roughly 21% above current levels.

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In August 2018, platinum hit its 10-year low at $777.30/t oz, only to hike back to the $1,024.80 mark in January 2020. However, the bullish momentum was short-lived, and for the platinum price, 2020 has proven to be anything but a good year so far.

According to our platinum forecast we expect a bullish breakout early 2021. Platinum’s price ultimately has an upside potential of 80% ($1800/oz), in 2022 or beyond. In 2021 we see price targets of $1,350 and $1,500. That’s an upside potential of 35% to 50%.

After trending higher from the end of October to early January 2021, reaching a four year high, platinum briefly pulled back, dipping to US$1,018 on January 11. Prices have since rebounded and are...

Will Platinum price grow / rise / go up? Yes. The PL price can go up from 1066.500 USD to 1170.960 USD in one year.

Yes, that's historically been the case. And yes, it is rarer, and it is pretty. But if the secular story behind platinum changes (as it has) then that old relationship can change too. The reality is that platinum's real rival now is palladium. The palladium price has rocketed even as platinum's has collapsed. The story behind it is well known now.

A collapse in the gold price to take this average back to normal levels is possible, but I would say a rise in platinum is the more likely. Assuming no change in the gold price, a return to the...

Historically, platinum reached its all-time high of $2,253 per oz in March 2008. Platinum’s record low of $97.70 happened in January 1972. In 2017, the average price for platinum stood at $948 per troy ounce. In 2018, the average platinum price is estimated to be around $1,090. The latest platinum commodity price as of 16 July 2019 hovers ...

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...

Looking at the chart below, we can see that platinum is currently close to the $780 to $820 range. This is the level where platinum has bottomed twice before, once in 2008/2009 and a second time in...

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