Platinum-related ETFs surged Wednesday as China considers loosening restrictions on vehicle purchases in an attempt to stimulate growth amid ongoing troubles over the trade war with the U.S.
Platinum is primarily used in catalytic converters in diesel-powered automobiles, but environmental concerns previously tamped down demand for the precious metal. As such, the price of platinum has fallen over the years amid weaker demand and excess supply, whereas gold and silver have found safe-haven support on an increasingly dovish Federal Reserve monetary policy outlook and palladium benefited from cars that run on gasoline.
Jubilee Metals Group plc (LON:JLP) is a diversified metals recovery company, they secured surface platinum-bearing tailings to recover PGMs and chromite, lead, zinc and vanadium bearing tailings in Zambia and holds the mining right to a primary PGM project in the Eastern Bushveld complex.
