Platinum – perhaps the new safe haven

Platinum has not been as expensive as it is now for around eleven years. The precious metal recently broke through the 1,400 US dollar mark.

What has happened to the price of platinum? An increase of around 40 percent within six weeks is quite something. Although China’s platinum imports were extremely high in May, perhaps because gold jewelry has become more expensive, there are no other fundamental reasons. It has been known for some time that the platinum market is in deficit, but this has had no impact on prices so far. The fact is that large producing countries such as Russia and South Africa are experiencing production losses due to various problems. At the same time, green technologies that use fuel cells or hydrogen electrolysers, as well as diesel and hybrid vehicles (catalytic converters) need platinum. The high price of gold may also have prompted investors to look for other precious metals, where platinum was cheap compared to gold. It remains to be seen whether the rise in the price of platinum will be sustainable. The deficit, rising demand and investor interest as well as the jewelry sector certainly suggest that it will.

Sibanye-Stillwater – https://www.commodity-tv.com/ondemand/companies/profil/sibanye-stillwater-ltd/ – successfully produces platinum metals and gold in the USA and South Africa.

Nevertheless, gold is and remains the safe haven par excellence. The price of gold is currently stagnating. As far as the global trade conflict is concerned, new threats have now come from the White House, directed at 14 countries and up to 40 percent. It remains to be seen whether there will be any backpedaling in this respect.

As the fundamentals for gold continue to speak for high gold prices, gold companies such as Southern Cross Gold Consolidated – https://www.commodity-tv.com/ondemand/companies/profil/southern-cross-gold-consolidated-ltd/ – should also be kept in mind. Its Sunday Creek gold-antimony project in Australia is scoring points with very good drilling results.

Current company information and press releases from Southern Cross Gold Consolidated (- https://www.resource-capital.ch/en/companies/mawson-gold-ltd/ -) and Sibanye-Stillwater (- https://www.resource-capital.ch/en/companies/sibanye-stillwater-ltd/ -).

In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.

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