The market is not yet sure how much platinum will be available this year and the next year. While prices have adjusted already, there might be further adjustments if we realize that the supply is going to be even lower than expectations," said Frederic Panizzutti, analyst at MKS Finance. Continued...
Ongoing supply disruptions in South Africa continue to limit platinum's downside risk, as traders view dips as buying opportunities," TheBullionDesk.com said in a daily report.
"And with investors still increasing their holdings through the ETFs, the market deficit is expected to widen considerably with the spot price potentially set to challenge $3000/oz later in the year," it said in a daily report.
London-based ETF Securities said on Thursday its platinum exchange traded commodity fund PHPT.L had more than doubled its holdings of the precious metal to 302,000 ounces since the start of January.
PLA Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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