Platinum Price OutlookPlatinum prices increased over the past month, in line with prices for other precious metals, amid a weaker dollar following the U.S. elections. On 6 November, platinum traded at USD 911 per troy ounce, which was 3.8% higher than on the same day last month. However, the price was down 6.2% on a year-to-date basis and was 2.0% lower than on the same day in 2019. The recent increase in platinum prices was likely driven by the weaker dollar in the wake of the U.S. elections, which made purchasing platinum cheaper for holders of other currencies. Moreover, markets wagered that Joe Biden’s victory raises the chances of fiscal stimulus, which would support economic activity and platinum demand. That said, renewed lockdowns in Europe likely took the edge off price gains, as European vehicle demand is likely to suffer—platinum is a key material in catalytic converters.
Platinum Price History Data (USD per troy ounce, aop)
Price forecasts and historical data for Energy, Metals and Agricultural Commodities.
Platinum Historical Price Chart
Price forecasts and historical data for Energy, Metals and Agricultural Commodities
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