Platinum fundamentals look constructive due to the ongoing Palladium to Platinum substitution – ANZ

FXStreet Insights Team FXStreet

Economists at ANZ Bank discuss Platinum and Palladium outlooks.

Platinum over Palladium

Among PGMs, we reiterate our preference for Platinum over Palladium. Platinum mines supply recovery looks constrained due to power challenges in South Africa. Meanwhile, substitution and higher penetration of electric vehicles are likely to weigh on auto catalyst demand for Palladium.

We expect the Platinum price to move towards $1,150 and Palladium to hover near $1,420 by the end of this year.

See – Silver Price Analysis: XAG/USD to reach $26 by year-end – ANZ

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