Electric Vehicles Set To Weigh On Platinum Price

Electric Vehicles such as Tesla Model III  could push- Platinum Price down

Since the end of August 2011, the price of platinum has fallen by nearly 50% from $1850 per ounce to around $950 per ounce today despite the fact that supply has remained relatively constant and the market is in deficit. Supply is only set to decline further this year according to the World Platinum Investment Council. Last month the council issued a report saying that it expects global refined supply of platinum to fall by 1% to 5.96 million ounces in 2017.

However, despite declining supply, the deficit in the global platinum market is expected to narrow to 65,000 ounces in 2017 from 360,000 ounces last year.

Declining demand...