Platinum futures were trading around $1,235 per troy ounce, not far from an over 6-year high of $1,302/oz touched in mid-February supported by robust demand from the automotive sector due to the global tightening of auto emission rules and US President Joe Biden's push for greener policies. On the supply side, Russian miner Nornickel cut its 2021 production guidance in the light of unexpected mines closures due to water problems. The bull run is expected to continue as automakers in China and North America are starting to switch to platinum from more expensive palladium in autocatalysts, along with new uses such as hydrogen fuel cells. Demand for platinum is also rising from other industries such as jewelry and as an
Historically, Platinum reached an all time high of 2290 in March of 2008. Platinum - data, forecasts, historical chart - was last updated on May of 2021.
Platinum is expected to trade at 1213.95 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 1089.48 in 12 months time.