Will platinum become the most attractive commodity for investors in 2021?

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Monday, February 15, 2021 - 16:55
Point Trader Group
Will platinum become the most attractive commodity for investors in 2021?

As a way to hedge against concerns related to the rise in the consumer price index, investors have resorted to directing their investment compass to platinum in addition to being a cheaper alternative compared to gold after the rises that the yellow metal has witnessed over the past year.

Platinum prices continued to rise in Monday's session by 1.1%, recording their highest levels in more than 6 years, with the strengthening of investor expectations that the economic recovery would support the demand for the metal. It is worth noting that platinum futures contracts rose 20% since the beginning of this year to reach $ 1290 an ounce.

The continued rise of the metal was supported by hopes to support the economic recovery of demand in the automotive sector, which is used mainly to purify emissions from engine exhausts.

Could platinum become the most attractive commodity for investors in 2021?


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