Last week ended with platinum losing significant ground, and traders were beginning to think it would drop back to the $2,000 level. However, the recent cooling of oil prices on international markets eased the pressure on metal prices and platinum exhibited some recovery as this week started.
The current supply deficit is expected to support platinum prices and any selloff triggered by geopolitical or macroeconomic events is unlikely to be sustained since the fundamentals of limited platinum supply will eventually prevail and cause prices to recover. Major platinum producers like Platinum Group Metals Ltd. (NYSE American: PLG) (TSX: PTM) are counting on this shortfall in their revenue projections for the…
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