Platinum futures reached a 2-month high to trade close to $1,050 per troy ounce, tracking recent gains in other precious metals amid inflation and geopolitical worries. At the same time, the supply remains tight and demand is seen increasing as the economies continue to recover and manufacturers start to handle better the ship shortage and start producing more vehicles. Also, both the major producers, Sibanye-Stillwater and Anglo American Platinum, have revised their outlook for their production, their mining supply, over the next few years, according to World Platinum Investment Council director of research Trevor Raymond.
Historically, Platinum reached an all time high of 2290 in March of 2008. Platinum - data, forecasts, historical chart - was last updated on January of 2022.
Platinum is expected to trade at 1004.56 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 934.48 in 12 months time.