The worth of Platinum continued to soar initially of the brand new buying and selling week and broke by the $1,200 per troy ounce mark for the primary time in 4 years on Monday, Commerzbank’s commodity analyst Carsten Fritsch notes.
Platinum worth continues to soar
“The worth is presently buying and selling even greater at round $1,270. The Platinum worth is up 27% since 20 Could and 40% for the reason that starting of the 12 months. Which means that the Platinum worth has risen much more than the gold worth, which has ‘solely’ risen by 27% for the reason that starting of the 12 months.”
“At first of April, shortly after the announcement of reciprocal tariffs by US President Trump, Platinum briefly fell again to $900. The worth explosion got here largely as a shock. The bodily Platinum market has been tight for years with out the value with the ability to profit from this, other than temporary worth spikes that by no means lasted lengthy.”
