Platinum has broken out of more than a decade of price weakness to reach its highest since 2014, as investors anticipate that rising demand, including from the budding hydrogen industry, will surpass supply and support a lasting rally.
Years of oversupply and weak demand for platinum, used by auto makers, industry and jewellers, dragged prices from $2,290 an ounce in 2008 to $558 last year.
But prices have rebounded as the global economy started to recover from the covid-19 pandemic and gained more than 20% this month to above $1,300.
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