By SIMON CONSTABLE
Battered stock investors should put a bar or two of platinum in their portfolio. Prices for the metal, which are used primarily in automobile catalytic converters, looks ready to bounce more than 40% in the next few weeks, analysts say.
“Our base-case scenario for platinum remains constructive, with a fair value of $1,000 [per troy ounce] driven by higher industrial demand, market volatility, and the South African rand,” says a recent note from Aberdeen Standard Investments. “Under a bullish scenario, platinum may rise to $1,150 [per troy ounce],” or 44% above recent prices. Read more here.
Battered stock investors should put a bar or two of platinum in their portfolio. Prices for the metal, which are used primarily in automobile catalytic converters, looks ready to bounce more than 40% in the next few weeks, analysts say.
“Our base-case scenario for platinum remains constructive, with a fair value of $1,000 [per troy ounce] driven by higher industrial demand, market volatility, and the South African rand,” says a recent note from Aberdeen Standard Investments. “Under a bullish scenario, platinum may rise to $1,150 [per troy ounce],” or 44% above recent prices. Read more here.
Claudio Pistilli, CC BY-SA 4.0, via Wikimedia Commons
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