London — A surge in investment buying will push the global platinum market into a small deficit in 2019 — the first since 2016 — but a hefty surplus will return in 2020, the World Platinum Investment Council (WPIC) said on Thursday.
Investors betting that prices of platinum will rise from close to 10-year lows will buy 1.2-million ounces in 2019, up from just 15,000oz in 2018, the WPIC said in its latest quarterly report. That will more than offset decreases in platinum use in jewellery, auto manufacturing and other industries, pushing the roughly 8-million-ounce-a-year market to a shortfall of 30,000oz, it said...
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