Platinum to reach $1,250 toward the end of the year – ANZ
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Economists at ANZ Bank expect Platinum to enjoy gains this year and hit the $1,250 mark by the end of 2023.
“Improving auto sector growth, higher loadings and substitution away from Palladium are likely to benefit Platinum.”
“Auto catalyst demand is likely to grow by 5% YoY. Constrained supply and robust demand could shift the market into deficit by 145 koz. A tighter market should encourage stronger investor activity.”
“We expect ETF holdings to rise by 300 koz this year after two consecutive years of outflows. This should push Platinum prices to $1,250 towards the end of this year. However, we hold a long-term negative view on Palladium due to weakening auto catalyst demand.”
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