Outlook Does Not Look Good For Platinum
London (Nov 29) Summary:•Platinum prices have been going down for quite some time. •Several factors are contributing to make sure that platinum stays weak. •Platinum is more likely to go down than to go up.
The last six weeks or so have been brutal for platinum (NYSEARCA:PPLT) in an already bad year. Prices have fallen from around $1025 to $845, a reduction in value of 17.5 percent. For all of 2015, platinum has so far dropped by around 30 percent. Since the middle of 2014 platinum has lost 44 percent of its value. From a peak of $1900 in 2011, prices have been cut by 55 percent. The charts below depict prices for platinum.