UBS Sees Stronger Platinum Demand Lifting Prices $300; Palladium Up $100 on Tight Supply | Metals Mine

  • UBS Sees Stronger Platinum Demand Lifting Prices $300; Palladium Up $100 on Tight Supply

    From fxleaders.com

    UBS revised its price projections for palladium and platinum following a significant increase in both metals. Platinum prices have risen by almost $500 per ounce over the last four weeks, reaching a 17-year high, in part due to investor excitement over the European Commission’s proposal to relax its 2035 ban on combustion engine vehicles. According to UBS strategists Giovanni Staunovo and Wayne Gordon, the action, along with slower-than-anticipated adoption of electric vehicles, has raised expectations that demand for platinum in autocatalysts may be sustained for longer. Citing “higher investment demand and a ... (full story)

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