Home Business Platinum is at a six yr excessive — what's behind the surge,...

Platinum is at a six yr excessive — what’s behind the surge, why it may well hold going and find out how to play it

Platinum bars

Tomohiro Ohsumi | Bloomberg | Getty Pictures

Platinum prices are buying and selling at their highest degree in additional than six years amid enhancing industrial demand and ongoing curiosity from buyers, who’re betting that the dear metallic will play a key position within the transition to cleaner vitality.

On Thursday platinum traded as excessive as $1,281.40 an oz., the best degree since Jan. 2015. Costs have since pulled again barely from that degree, however the metallic continues to be on tempo to finish the week with a double-digit share acquire. Up to now this yr costs are up greater than 16%, however the metallic nonetheless trades beneath friends palladium and gold.

With the platinum market posting a deficit in 2020 amid the coronavirus pandemic, the Avenue is betting the metallic, which started to rally in earnest again in November, can proceed to climb.

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