Platinum demand this year will exceed supply by the biggest margin since 1999, according to Johnson Matthey in London. This is good news for precious metals investors. More industrial purchases and investment will outweigh slower buying by jewellers and car manufacturers. While car manufacturers will buy less platinum for the first time since 2009, rising demand from chemical, electrical and glass industries and record investment will widen the shortage by 78% to 605,000 ounces, according to Johnson Matthey in a report released on Tuesday morning London time.
I have been a senior resources analyst following the fortunes of the mining and energy sectors for the past 25 years - previously working with stockbroker Intersuisse and financial group Fat Prophets. I am also Executive Director, Mining & Metals...
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