Platinum futures remained below $950 per tonne, down more than 20% from its 8-month high of $1153 hit in March, as aggressive monetary tightening across the world including Fed’s supersized 75 bps rate-hike in June fueled fears of a recession, raising prospects of a lesser vehicle production. Also, demand recovery from top consumer China is expected to remain subdued as China re-introduced lockdowns in key cities amid a fresh outbreak of covid cases.
Historically, Platinum reached an all time high of 2290 in March of 2008. Platinum - data, forecasts, historical chart - was last updated on June of 2022.
Platinum is expected to trade at 910.59 USD/t oz. by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 847.92 in 12 months time.