How Is Platinum Performing?



Industrial demand

Though all the four precious metals have been slowly retreating, palladium has a year-to-date gain of 24.9%. It also a tremendous five-day gain of approximately 5.6%. Palladium seems to be associating more with equity market sentiment than precious metals are. Palladium is also famous as an industrial metal. On Tuesday, palladium prices rose to their highest level in more than five weeks.

The hopes of stronger auto sales in the US is likely helping palladium. It is expected that palladium markets will post a deficit of 651,000 troy ounces in the current year. Also, there may be an additional shortfall in 2017 due to the autocatalyst demand. According to the latest figures from CAAM (China Association of Automobile Manufacturers), Chinese passenger vehicle sales continue to record steady grow with a 20.3% rise year-over-year.

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Palladium closed at $697.7, and platinum closed at $933.6 an ounce, respectively. Platinum and palladium price fluctuations can be tracked by way of investment in funds like the Physical Palladium Shares (PALL) and the Physical Platinum Shares (PPLT).


Substantial sales

Platinum is mostly associated with precious metals in the current downtrend. According to the surveys, platinum sales have exceeded the guidance of 700,000 ounces. The forecasted 2017 sales guidance is 650,000–680,000 platinum ounces.
The precious metal mining companies are also heavily impacted by the fluctuation in precious metals. Such companies include Primero Mining (PPP), Kinross Gold (KGC), Coeur Mining (CDE), and IAMGOLD (IAG). These companies saw tremendous year-to-date gains, but the past few months have been volatile for these companies due to sliding metal prices.

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