Platinum to reach $1,250 toward the end of the year – ANZ
|Economists at ANZ Bank expect Platinum to enjoy gains this year and hit the $1,250 mark by the end of 2023.
Long-term negative view on Palladium
“Improving auto sector growth, higher loadings and substitution away from Palladium are likely to benefit Platinum.”
“Auto catalyst demand is likely to grow by 5% YoY. Constrained supply and robust demand could shift the market into deficit by 145 koz. A tighter market should encourage stronger investor activity.”
“We expect ETF holdings to rise by 300 koz this year after two consecutive years of outflows. This should push Platinum prices to $1,250 towards the end of this year. However, we hold a long-term negative view on Palladium due to weakening auto catalyst demand.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.