Platinum investment demand expected to drive market into deficit
But World Platinum Investment Council forecasts 670,000oz platinum surplus for 2020
21 November 2019 - 19:29
The global platinum market is predicted to slide into a small supply deficit in 2019, which should underpin the price of the metal, as investment demand unexpectedly surges to more than 1-million ounces.
The latest data released by the World Platinum Investment Council, set up by six SA platinum miners in 2014, shows buying of platinum-backed exchange traded funds (ETFs) as well as purchases of bars and coins of 1.095-million ounces in the first nine months of the year backed a forecast of 1.2-million ounces in investment demand for the full year...
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