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Platinum demand and price set to rally in 2015: HSBC

Posted on 26 February 2014

The prices of Platinum witnessed steady fall during the past six months, falling all the way from levels as high as $1,550 per oz down to $1,420 per oz. The falling gold prices injected weakness in other precious metal class including Platinum. According to HSBC, the future does not look as gloomy, primarily due to the tightening supply from mines.
As per the HSBC report, automotive market will turn out to be the main driver for platinum demand. The recovery in European automotive production will boost the demand for Platinum. HSBC pegs the year-on-year demand growth for Platinum in 2014 at 7.4% in Europe, China and India………………………………………..Full Article: Source


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VRS - who has written 36568 posts on Opalesque Commodities Briefing.


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