Platinum is one of the most precious metals of the world under today’s world conditions. We can observe a fluctuating trend during the year of 2016. But, the general direction was positive. The starting point was at 880 USD level at the beginning of year, and reached 905 USD level at the end of the year. Platinum, one of the most rare metals in the world, is mainly used in electric appliances, dentistry and automobiles in laboratory equipments, jewelery. Platinum, which is resistant to high temperatures, not easily oxidized and has superior electrical properties, is also in two countries, like South Africa and Russia, in pure state. In addition, the platinum commodity trade has become popular and the demand is increasing, making it easier to work with the developing technologies in the last century.
When we look at the first 2017 signals of platinum market, there will be some recovery signals in the economies of the biggest platinum producers of the world. The starting prices of platinum market was 972.85 USD level at the beginning of year. It is reported that Platinum's demand for a 1-ounce Platinum American Cartridge for the first time since 2014 is in excess of expectations. This may be a reason why the rally at the platinum price overtakes other valuable metals. At the same time, recall that about 50% of the platinum demand is due to the catalyst requirement for diesel vehicles. In China, where more gasoline vehicles are preferred, we see that July car sales have gained momentum. Palladium demand is about 75% of the need for catalysts produced for gasoline vehicles. Finally, we can say the traders are following the latest regulation of Zimbabwe about the platinum production for the foreign investors which is the third biggest platinum producer of the world.
- Date: 09 January 2017 Mon 17:27
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