Recovering Auto Industry Sees Growth in Platinum

The Globe and Mail recently reported that with the resurging auto industry, 2013 looks promising for platinum, which entered an annual period of seasonal strength, averaging at 8.9%.

As quoted in the market news:

Demand for platinum used in the auto industry continues to grow. A recent article in the Economist predicted that world car production will increase to 82.8 million units in 2013. The Economist noted that global assembly lines are being built at a rapid clip to meet the demand. China remains the largest auto producer in the world. The biggest per cent increase in 2013 auto sales is expected to come from the United States, with India, Russia and China following closely behind.

Click here to read the full The Globe and Mail report.