Platinum is the Metal to Watch

Platinum is the Metal to Watch 

Platinum prices traded at their highest level in more than six years amid improving industrial demand and ongoing interest from investors, who are betting that the precious metal will play a key role in the transition to cleaner energy. 

Last week, platinum traded as high as $1,281.40 an ounce, the highest level since Jan. 2015. Since then, platinum has slipped, and gold dropped as a rebounding dollar curbed the appeal of precious metals. 

Despite the slip, Platinum is the metal to watch.  The metal has climbed around 20% so far this year, outperforming all its peers, on signs that an economic recovery from the pandemic is set to boost demand for the metal used in catalytic converters. 

Increasingly, Platinum is being viewed as a bet on a greener economic recovery from the pandemic. Europe, China and the US are all tightening emissions standards this year, boosting demand for platinum-group metals. Platinum’s green credentials are also burnished by its use in the hydrogen economy, though physical demand from the sector is likely to remain modest in the near future.

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Errante is the trading name used by Notely Trading Ltd, an Investment Firm authorized and regulated by the Cyprus Securities and Exchange Commission (CySec) under license number [383/20]. Errante is governed by the Markets of Financial Instruments Directive (MiFID II) of the European Union.

To find out more about Errante, visit https://errante.eu.

 

I CFD sono strumenti complessi e comportano un rischio elevato di perdere rapidamente denaro a causa della leva finanziaria. Il 33.33% dei conti degli investitori al dettaglio perde denaro quando opera con i CFD di questo fornitore. Dovreste valutare se siete in grado di capire come funzionano i CFD e se potete permettervi di correre il rischio elevato di perdere il vostro denaro. Informativa sul rischio.

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