Platinum will reign supreme again!
Everyone knows platinum is the superior metal to Gold, it's rarer and a lot less of its supply has been mined. However the price hasn't reflected this for a while now which could be due to a few factors such as less demand for industrial use as well as investment and not to mention the world wide pandemic.
Below I've quoted some interesting facts from a report by the World platinum investment council, yes I understand they're biased however I encourage everyone to do their own research.
"First-quarter bar and coin investment surged to 312 koz in Q1 2020 – up over 300% on the quarterly average of 70 koz in 2019. This was driven by a jump in bar and coin demand in both Japan and the US, while demand in Europe also increased albeit from a low base. The increase was largely driven by bargain-hunting following the price fall in March. Bar and coin investment demand is expected to surge by 115% to 605 koz in 2020. "
"While total automotive platinum demand is forecast to fall by 14% (-413 koz) in 2020, automotive demand in China is expected to increase by 14%, despite the effects of COVID-19. The phasing in of China VI standards for heavy-duty vehicles drives an increase in loadings that outweighs the expected decline in units produced. Similarly, the implementation in India of the Bharat VI legislation in April 2020, is also likely to increase demand for platinum, despite the lockdown restrictions that are currently in place. "
Aside from this, we are seeing record levels of inflation in the USD and investors are looking at alternative and speculative investments like precious metals.
Below I've quoted some interesting facts from a report by the World platinum investment council, yes I understand they're biased however I encourage everyone to do their own research.
"First-quarter bar and coin investment surged to 312 koz in Q1 2020 – up over 300% on the quarterly average of 70 koz in 2019. This was driven by a jump in bar and coin demand in both Japan and the US, while demand in Europe also increased albeit from a low base. The increase was largely driven by bargain-hunting following the price fall in March. Bar and coin investment demand is expected to surge by 115% to 605 koz in 2020. "
"While total automotive platinum demand is forecast to fall by 14% (-413 koz) in 2020, automotive demand in China is expected to increase by 14%, despite the effects of COVID-19. The phasing in of China VI standards for heavy-duty vehicles drives an increase in loadings that outweighs the expected decline in units produced. Similarly, the implementation in India of the Bharat VI legislation in April 2020, is also likely to increase demand for platinum, despite the lockdown restrictions that are currently in place. "
Aside from this, we are seeing record levels of inflation in the USD and investors are looking at alternative and speculative investments like precious metals.
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