Platinum prices were volatile in 2011 and look set to continue that way in the early parts of 2012. Still, analysts have a positive outlook.
Platinum reached a record high on Monday. What does this mean for investors seeking short term growth and safety?
The perfect storm has hit platinum in the wake of the Japanese earthquake and geopolitical events in the Middle East and North Africa regions. The impact of these events are specific to the platinum market in one regard: automotive demand. Nearly 40 percent of total platinum demand comes from the auto industry.
Commodity Online.com reports that increased demand from the auto industry will push prices up for platinum and palladium in the next year.
Bloomberg.com reports that both platinum and palladium are expected to rise significantly by 2013, according to the Credit Suisse.
Independent Online.com reports that Platinum was trading up today.
Bloomberg.com reports that LGT raised forecasts for both platinum and palladium for 2011
Reuters.com reports that spot palladium has rebounded in early trading in Asia.
The San Francisco Chronicle.com reports that both platinum and palladium rose in Asian trading today.
Bloomberg.com reports that Platinum futures were trading down today
Thursday, December 15, 2011