Platinum Price Outlook
Platinum prices fell over the last month, in line with most other precious metals. On 29 November, platinum traded at USD 894 per troy ounce, which was 2.6% lower than on the same day last month. However, the price was up 12.6% on a year-to-date basis and was 9.0% higher than on the same day in 2018. The fall in palladium prices over the last month likely came amid slack safe-haven demand. Trade tensions have ebbed somewhat recently, with the U.S. and China engaged in intense negotiations over a “phase one” deal. Moreover, concerns over the health of the global economy have also appeared to dim slightly, thanks to a stronger-than-expected Q3 GDP reading in the U.S., and a rise in China’s October manufacturing PMI. On the supply side, South African mining union AMCU reached a wage deal with several platinum mines in November, following months of tough negotiations. This reduced worries over possible production outages, putting further downward pressure on prices.Platinum Price History Data (USD per troy ounce, aop)
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Price forecasts and historical data for Energy, Metals and Agricultural Commodities.
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Price forecasts and historical data for Energy, Metals and Agricultural Commodities
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